Skip to main content

[US NE] Can I qualify to refinance this house?

I have a question about qualifying when self employed through my own business in the U.S. Midwest.

I'm getting divorced and the child support I receive will be $470 and my alimony will be $800 a month.

I'm self employed and the last four years on my taxes my net income for my business was: $37K, $21K, $19K and $8K (yeah, decreasing) and I have about $14K in savings and excellent credit and no debt.

My husband makes most of our income, but agreed that if I can refinance the house in my name he will let me have it because the equity in our house lets him keep more of his retirement.

What I'm trying to figure out is can I qualify for a loan for $107K for a house that is $300K so I can take over the loan in the divorce?

Trying to figure out how I can make this work, but I'm concerned my income isn't high enough.

Can I do an FHA loan? What could help this situation?

submitted by /u/Bone_Apple_Teat
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1slq2g3/us_ne_can_i_qualify_to_refinance_this_house/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Looking for Prospective Opportunities to Utilize Floor Plan Redraw Skills

"Hey HomeOwners & Investors , I have a team of 10 professionals who are trained in redrawing/redesign floor plans in both 2D and 3D interior& exterior using floorplanner.com/3ds Max and TruView point cloud. We're looking for prospective opportunities to utilize our skills. Are there any companies or individuals in need of accurate floor plans and measurement reports ? Any suggestions for where to start looking? Thanks in advance for your help!" submitted by /u/mangojuicelife [link] [comments] source https://www.reddit.com/r/RealEstate/comments/119uoh0/looking_for_prospective_opportunities_to_utilize/
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more