StitchesGr8Fan
DIS Veteran
- Joined
- Jul 17, 2009
Let me give you some background. I have a townhouse that I rent out because the area tanked with the economy. I live elsewhere and don't pay rent so I'm saving tons of money. I'm not going to be able to sell the townhouse for a few years because the market is saturated with foreclosures and short sales.
DBF and I are thinking about looking at houses. I'm concerned that there is no way anyone would let me buy another house even though we will have a good down payment, my salary is double what it was when I bought my townhouse so I have enough income to pay both mortgages, and savings to cover any gaps in renters. I'm thinking DBF would have to be on the mortgage alone, which would drastically reduce what he would get approved for. I have no debt other than my mortgage and a car payment. Am I doomed if we try to get a mortgage together? I understand banks are being super cautious, but we could take one of those houses of their hands if they would let us.
DBF and I are thinking about looking at houses. I'm concerned that there is no way anyone would let me buy another house even though we will have a good down payment, my salary is double what it was when I bought my townhouse so I have enough income to pay both mortgages, and savings to cover any gaps in renters. I'm thinking DBF would have to be on the mortgage alone, which would drastically reduce what he would get approved for. I have no debt other than my mortgage and a car payment. Am I doomed if we try to get a mortgage together? I understand banks are being super cautious, but we could take one of those houses of their hands if they would let us.