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Old 05-21-2017, 12:47 PM
Berner_Faith Berner_Faith is offline
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Join Date: May 2011
Location: Ontario
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Originally Posted by Aghast View Post
Hi Berner_Faith

The mortgage application was something my lawyer, when I still had him, mentioned.

The reasoning was that someone who is living beyond their means (buying a house with annual incomes between $15,000-$30,000) would have to state their annual income on their mortgage application. Would a mortgage company give a mortgage to someone with incomes that low even with a co-signer? I don't know.

However, they would have to explain how they managed to get a mortgage. The evidence is present that a house was purchased, for how much and how much the down payment was. There is no evidence of a co-signer.

Yes if there was a co-signer or co-buyer a mortgage company would provide a mortgage. I will tell you this, when we bought our house, my husband only made $30,000... I was fresh out of college and was just starting in my career... my income was actually listed as $1 because I didn't have a job long enough to qualify. We were granted a mortgage even though our household income only showed $30,001.

There are many different ways around getting a mortgage. In separations I also don't think it's uncommon for an ex spouse to purchase a house with a family member to protect the asset. My father has his name on my brothers mortgage and title because when him and his gf bought their house they were not as serious as they were now... in the event they separated the house was only owned 1/3 by each of them. My uncle did this for my cousin as well. Both my brother and cousin make good money and could have been approved on their own but they were approved at a higher amount with the co-signers which allowed them to purchase more of a house, which they both can still afford.

I don't believe a mortgage application is required for disclosure. However those more experienced may know more

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