Does having a child (a dependent) give you any help in getting a FHA loan? Or more $ in it?
I am looking online at mortgage loan calculators and “what you can afford” calculators. One asked more details questions: What state and county am I in, and how many children do I have. Does having a child give us a better chance of getting a higher amount in our loan? I have a baby on the way, so I am just interested in how it works. Any help is appreciated thanks!
Edit: When I told the calculator that I did have one dependent, it gave me almost 10k more. Not less.
My husband does not have good credit but makes way more than I do. My credit is 704 or higher I believe, our debt to income ratio is 20%. I have worked at my job for 2 years and he has worked at his for 6-7. We can afford to pay a mortgage payment of 1209 according to an FHA calculator.
If he is my co-signer would they just look at his income and not his credit? Or they would still look at everything?