Does my spouse qualify for a mortgage?

[snowhite]

I assume there are no mortgage brokers here or none of you who responded are experienced enough to talk on the subject.

Surprisingly, it seems that there is a high number of "unemployed?", or "older talkative type?" people on the forum based on the lengthy responses that have nothing to do with the subject.

I am fine with that and as I mentioned in the first line I am not sure if this is a group that can advise with such subject or not but it seems people don't read

[Four Pillars]

I assume there are no mortgage brokers here or none of you who responded are experienced enough to talk on the subject.

Like I said - they usually don't even read the responses. Way to prove my point, snowmoron.

[crazyjackcsa]

I'll play along, In the hopes that you become a long term asset to the forum. Short answer is probably not. Banks will see part time job+ business owner, little downpayment and won't approve a mortgage that size. She might be able to swing somewhere around $200,000.

One thing that is odd is your wording. Why would your spouse need to qualify, and not you to? Unemployed? Terrible credit? Ex-con? Not a citizen of the country? Looking for material for your own blog?

[Sampson]

Oh come on...

you guys are all being sour-pusses. It's the internet, it's a forum. You can choose to read or not read, post or not post.

Weren't we always told that there are no bad questions? I can understand that apparent laziness rubs some the wrong way, just skip over and let the OP ask without doing additional homework.

[Toronto.gal]

Surprisingly, it seems that there is a high number of "unemployed?", or "older talkative type?"

You joined the forum just a minute ago, I mean a day ago, and already making so many negative assumptions about a 'high number' of members here? [unless by 'unemployed', you meant self-employed or retired, and by 'talkative', you meant friendly/helpful?].

Actually, people from every age/walk of life participate here, including millionaires, but it will take you more than a day to figure that out.

[Charlie]

The ingdirect.ca website gives a pretty good guideline. On $50K annual income it calculates about $200K. If you *really* want to spark a debate, ask us if we think you should be considering a $300K mortgage given the info you've noted .

Welcome aboard, Snowhite....but this is a community of sorts. Sometimes we're Grumpy. Or Sleepy, Happy, Bashful, Sneezy or Dopey. You can't just barge in and expect to be taken care of instantly. You don't necessarily have to cook, clean, sew and tidy up. But a bit o' research to your questions would be appreciated....Sorry for the rough welcome. If you participate you'll find we're a good and helpful group.

[Homerhomer]

There are number of mortgage brokers posting on this forum:
http://forums.redflagdeals.com/offic.../#post15453481

[marina628]

They will need at least 2 years business returns and will average the last 2 year tax returns for income .Fico score is good and many banks have how much can I afford calculators.Assuming no debt on $48,000 a year income with $15,000 down she qualifies for a $210,000 mortgage.http://www.tdcanadatrust.com/HMCIA/index.jsp Have fun and play with the numbers yourself.
As a self employed person the income verification(minimum of 2 years filing) and down payment is the most important criteria.I know people who are just out of bankruptcy who have qualified for a mortgage just because they had 20% down .

[blin10]

I agree, it's as bad as a guy telling everyone to stop quoting on this forum or a spelling police... don't want to answer, don't read the topic, jeeez

Oh come on...

you guys are all being sour-pusses. It's the internet, it's a forum. You can choose to read or not read, post or not post.

Weren't we always told that there are no bad questions? I can understand that apparent laziness rubs some the wrong way, just skip over and let the OP ask without doing additional homework.

[Sampson]

Nice blin, you have the reverse quote going on.