Can anyone give me advice on buying a home when two banks have already denied me a loan?

Answers:1   |   LastUpdateAt:2012-10-25 11:18:02  

Whisky Ï„?
Asked at 2012-09-12 23:09:06
I have 26 years old , unmarried female wanting to buy a house . I have a full time job and pay all my bills on time . My income is $ 32k/year . My credit score is in the 700 high. The problem is that I have a high debt ratio of income because I have $ 40k in school loans , plus it has another $ 10k in credit card debt and a car loan . I'm trying to pay the $ 10k first, but after paying a little more than a minimum amount that they have no way of saving money for a house payment . I'm in the process of getting a second job. I have $ 15,000 in stocks that go toward the down payment. MedlinePlus MedlinePlus I made two mortgage applications and have not been approved either , because my debt to income ratio is 65% (I'm not sure what that means ) . If I paid the $ 10k would only be up to 59 % . MedlinePlus MedlinePlus Is there anything else I can do ? I know there are people poorer than me, live on their own . I hate having to live with my parents . Where are the resources ? I thought my dad co - sign, but when I asked what he was very hesitant and said he did not know if I would do that for me . I am devastated . Help !
Answer1salshaAnswered at 2012-10-25 11:17:48
Your debt to income to X in income and owe and owe . MedlinePlus Currently Y = 65% of their salary . MedlinePlus MedlinePlus No one will give a loan without being close to 31% (35 % tops ) . This is in their own interest , because I really do not have the income to pay for the house . To reduce this debt to income, you can find a less expensive property .
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