How hard is it to get a mortgage these days?

We are 1st time home buyers, and an amazing opportunity just came about. My husband only has reported income, I run a cash business. He thinks it will be impossible for us to get a loan, but I'm willing to try.

Any thoughts? TIA

Re: How hard is it to get a mortgage these days?

I don't think it will be difficult as long as his income shows it can cover the mortgage.

Re: How hard is it to get a mortgage these days?

if you can afford te home on just his salary, and you don't even need to show your cash business, you shouldn;t have any trouble

if you have to count yuor income, it will be harder, but by no means impossible unless you can't show documentation of all your income. they are going to want to see general ledgers, tax returns cash reciepts etc. have you used an acountant for your businesses bookkeeping? if so you shouldn't have a problem at all. they will just ask for a lot of paperwork

Re: How hard is it to get a mortgage these days?

as long as he can show enough income you are fine

however I would use a direct lender like Continental Home Loans b/c they are more flexible with the ratios then a tradtional bank

I can recommend a few people there- they are fab!