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Old 05-17-2009, 06:35 PM
 
18 posts, read 89,838 times
Reputation: 16

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My fiancée & I are looking @ a property right now for sale for just under $100k

She currently makes 35k a year. I make $1520 net a month on unemployment due to injury. I have been in the Army reserves for almost 7 years now.

What do the loan companies look @ when determining eligibility ? Would my unemployment be good enough for them to establish funding for a VA loan ?

I assume her 35k a year is not enough alone for a $100k loan ?

what do you guys think ?

I can put 10% down if need be. would this help me at all ??
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Old 05-18-2009, 09:38 AM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,580,407 times
Reputation: 958
Are you permanently disabled? Is the unemployment permanent SSI or temporary disability? What other long term debt do you have?
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Old 05-18-2009, 10:20 AM
 
5,227 posts, read 13,370,180 times
Reputation: 4403
Quote:
Originally Posted by 21mike View Post
My fiancée & I are looking @ a property right now for sale for just under $100k

She currently makes 35k a year. I make $1520 net a month on unemployment due to injury. I have been in the Army reserves for almost 7 years now.

What do the loan companies look @ when determining eligibility ? Would my unemployment be good enough for them to establish funding for a VA loan ?

I assume her 35k a year is not enough alone for a $100k loan ?

what do you guys think ?

I can put 10% down if need be. would this help me at all ??
Depending on how much other debt your fiance has, $35k/year may easily qualify for the mortgage.
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