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Old 04-28-2015, 12:44 PM
 
1 posts, read 577 times
Reputation: 10

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I am moving to the Bangor Maine area and want to buy a house. I will have about a 35-37% down payment so that monthly mortgage will be very small. I have a solid past work history, great credit and very low debt, and a current mortgage. Does anyone know of a mortgage program that would fit this mold?
Any guidance would be warmly welcomed as this is all a bit overwhelming to work out. Oh--- as a P.S
the reason that I am looking to buy vs rent for a few months is I have 4 dogs, 2 cats and 2 bunnies...
So you can see why renting is really out of the question. The crew and I need to stay together.
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Old 04-28-2015, 01:14 PM
 
Location: Austin
7,096 posts, read 16,975,750 times
Reputation: 9547
You need a job. Your approval will be based on debt to income ratios. If you have debts to pay out, you need income to come in. If you receive a monthly social security payment or a monthly disability payment, or some monthly payment from an investment account, those can possibly be taken into account as "income", but without anything coming in, you're not going to be able to buy a house. You're too high of a risk.

Get a job, then move.
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Old 04-28-2015, 11:50 PM
 
Location: Southern California
4,350 posts, read 4,966,867 times
Reputation: 2129
So where do you expect them to calculate your income from, rental
of your existing home? Have a lot cash?
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