Question by Shanna: What exactly is needed for a home loan in GA?
1. What is the credit score needed?
2. What is the minimum income needed for a $ 90,000 loan?
3. What is the acceptable income to debt ratio?
4. What is the minimum down payment required for a $ 90,000 loan
5. Can you count rent paid by others in home as income? Or do they have to sign the loan also?
Best answer:
Answer by linkus86
Not everything is so cut and dry because different loan programs, with different lending guideline exist. Rather than waiting until you have all your ducks in a row, it is better to go sit down with a mortgage banker and let them collect your information and tell you what needs to be fixed. FYI you can count rent paid by others as income if you pay taxes on that rent.
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