We are staying in a home my wife’s parents have let forcluse last july. Well, the price is rock bottom. She wants to keep the house. The problem is we are on fixed income and do not know where to start to see if we can get a new mortage. We want to see if we can afford it first and can you use child support as income for the loan guidelines? We are in michigan and do not know the guidelines or where we can a decent down payment except through ameridream.
yes child support can be counted as income as long as it will last at least 3 years or longer. There is no Ameridreams programs taht will work in this loan. Now if a vetran or if the loan qualify’s for USDA rural developement and credit is above 620 then they too offer 1000% programs as well
mortage help on a foreclosed home?
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You start by seeing a lender or mortgage broker to get preapproved for a loan. Then you will know what you can qualify for.
References :
yes child support can be counted as income as long as it will last at least 3 years or longer. There is no Ameridreams programs taht will work in this loan. Now if a vetran or if the loan qualify’s for USDA rural developement and credit is above 620 then they too offer 1000% programs as well
References :