Zillow Advice: Buying Process - Can I qualify for FHA if my monthly income is not 31% of my mortgage? http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-if-my-monthly-income-is-not-31-of-my-mortgage/380443/ Zillow Advice | Zillow Real Estate Hi Jennifer,The short answer ... http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-if-my-monthly-income-is-not-31-of-my-mortgage/380443/ Hi Jennifer,<br/><br/>The short answer is yes...you can still do this.&nbsp; There are caveats, such as how long have you received the quarterly commissions, etc...but a seasoned mortgage professional will lead you through the process with ease.&nbsp; <br/><br/>If someone is suggesting that you cannot get this loan simply due to the&nbsp;Debt Ratio&nbsp;being 31%, I would recommend a second opinion.&nbsp; There are still several&nbsp;lenders available who offer guidelines without additional (internal) guidelines.&nbsp; It's possible that you've spoken with someone who has such guidelines in place.&nbsp; If you would like additional information, please feel free to contact me. Wed, 12 Jan 2011 03:38:00 GMT http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-if-my-monthly-income-is-not-31-of-my-mortgage/380443/ 2011-01-12T03:38:00Z Hey ClayI'm saying that my ... http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-if-my-monthly-income-is-not-31-of-my-mortgage/380443/ <p>Hey Clay<br/><br/>I'm saying that my yearly salary shows that I can make enough money monthly to pay my mortgage, because its less than 31%. However, if you look at my monthly income it shows otherwise. Why? Well because I make quarterly commissions and have a base salary.<br/><br/>thanks,<br/>jennifer</p> Wed, 12 Jan 2011 03:21:00 GMT http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-if-my-monthly-income-is-not-31-of-my-mortgage/380443/ 2011-01-12T03:21:00Z If you are saying your income ... http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-if-my-monthly-income-is-not-31-of-my-mortgage/380443/ <p>If you are saying your income for the last 2 years includes salary and commission and your debt ratio is 31% based on that, then&nbsp;you will qualify as long as your total debt ratio is inline.&nbsp;Are you saying your last paystub in Dec does not reflect the total income, only salary portion? &nbsp;&nbsp;&nbsp;</p> Wed, 12 Jan 2011 02:15:00 GMT http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-if-my-monthly-income-is-not-31-of-my-mortgage/380443/ 2011-01-12T02:15:00Z You may be able to based ... http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-if-my-monthly-income-is-not-31-of-my-mortgage/380443/ You may be able to based on automated underwriting systems- contact a good mortgage person!&nbsp; there are still quite a few Mortgage brokers getting things done that other lenders can't!&nbsp; Wed, 12 Jan 2011 01:51:00 GMT http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-if-my-monthly-income-is-not-31-of-my-mortgage/380443/ 2011-01-12T01:51:00Z