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Tom - November 27th, 2004 9:00 PM

Hi. Actually, I do have a job but it's not that stable. I want to buy a house. I have five kids and my wife's been nagging me for ages. My friends say that nobody will lend me money if I don't have a very secure income source. I'm feeling really hopeless and I feel as if I'm letting everyone down all the time because I'm poor. Does anybody know if it's possible to find a lender in my situation?

Hattie - September 16th, 2004 3:15 PM

Your credit history and whether or not you have money in the bank will largely determine whether or not you will be able to find a lender. Remind your wife that when a person buys a home a downpayment needs to be made. Usually this downpayment needs to be 10% of the homes value. This usually means coming up with over $10,000. Living modestly sure beats declaring bankruptcy so if your wife wants a home tell her it's up to her to figure out how the two of you will come up with a downpayment.

Earl - October 20th, 2004 7:39 PM

Buying a house without having a job is not a good idea no matter who is nagging you to do so.

betty - October 20th, 2004 7:40 PM

You will have a hard time qualifying for a mortgage if you don't have a job.

kingston - November 27th, 2004 9:00 PM

If you feel you will be comfortable with the expenses of owning your home you can get approved with some loans without verifying your income, assets, or employment and if you want more information email [email protected] and I will send you contact information on my mortgage brokerage company.

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