by Heather from North Carolina USA
Hi Kate, Should I buy a home without significant income? My husband and I are hoping to be able to relocate soon. We both have good credit. Our concern is that he is currently unemployed, but enrolled in college. I do not make a lot of money at my job. However, we have decent savings. We have enough savings we could pay off a new home, but obviously we do not want to do that.
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Heather continues... Is it possible that we could get approved for a mortgage based on our savings rather than our income? We plan to put down a 25 to 30 percent downpayment. Thanks, Heather
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