Expert: Hans Weber, Licensed Broker Associate - 1/20/2012

Question
Hello,

My husband and I were hoping to sell our home in the Spring and buy another but unfortunately I lost my job last year and have had no luck so far in finding another. Since then I have started up my own dog bakery which I will be having online soon. My question is how long do I have to have my business before a mortgage company would consider my income as well as my husbands?

Answer
Hi Diana,

Getting a mortgage nowadays is very complicated.  Speaking directly with a mortgage broker will give you a better guide to your goals than I can.

Sometimes the big banks will prefer to hold onto their money rather than lend it out and a smaller local bank might be easier to work with.  Depending where you are you might want to try Trustco bank, Wiliam Jansz 914-345-1808 or email him at wjansz@branch.trustcobank.com.

Lenders look at several factors when making the decision, loan amount to value of house, income, credit, downpayment, job history.

So contact William and let me know what happens!

Good luck, it is a great time to buy!.

Hans