Tag Archives: mortgage financing
We were told our loan was going through and now they are saying our debt to income ratio is probably too low.
Q: We have a house appraised at $720,000. We recently applied for a refi and home equity loan since our current mortgage is based on LIBOR and we are concerned about interest jumps on our adjustable. We have never had an issue with not being able to make payments till now. My husband is a financial adviser and hasn’t been able to earn enough to pay our bills. We have dwindled our savings to nearly nothing. We were told our loan was going through until the mortgage guy was fired last month and now they are saying our debt to income ratio is probably too low. We need the home equity loan to hold us over until we can figure out how to increase our income, etc. Now what? My income has doubled but is very low given my profession … Read More.