High Debt Ratio

Been looking at the 50K range. Any lower and most homes need too many repairs which I will not be able to afford.50K, maybe 55K.Found some lenders that will lend as low as 35K but again, those homes are scary and need to many repairs.Through about going the Land Contract route but then again, the payments would be to high every month and I don't want to worry about payments every month.I have talked to many lenders/mortgage/brokers and only one will take into consideration two separate car payments as proof I'm not paying the car loan. The first car, only a year old, was turned in for something that is more suitable for my handicap.That's where I'm stuck now. The car. The car is the only thing in my way after a hurdle of other obstacles now gone.I've been on a long road searching and I haven't given up.I do know if I move into a rental that will be it for me. I cannot move again due to the expense.

Hi Dave,Thanks but I'm not looking to buy on the west coast. My goal is to get away from Ca. and start over. I don't have an issue with a solid check every month so moving to another state will not create a job issue for me.I've been looking at a certain area in MI for almost two years now and even went to MI to make sure this is what I want and need.I was born and raised in So. Ca and I need to start over.A mortgage is cheaper then rent or a land contract by far and this is the only chance I have.I've run across a lot of bad information from lenders and rules that would make your head spin but in almost every situation I thought I was in, I found lenders that could bypass those issues but...that car. That final problem is now my only problem in finding a lender/broker.After everything I've manage to fix, this car is stopping me and there is no chance of paying it off or refinancing due to it's a lease and still has 2 1/2 years to go.So, if anyone knows a lender that will work with a DTI based on the information above, please let me know that is licensed in the MI area in the UP.I have one lender that thinks she can do it even after taking all my info but, I would like a back up in case she is wrong.

The land contact is an option. Unfortunately, it's not a buyers market this year in the area I've been looking at for two years. This year, houses have sold like crazy including one I was very serious about buying. Unfortunately, the realtor didn't tell me the owner was up for a land contract when we were there so instead, went searching for a mortgage lender instead. I found out only about a month ago when the home showed up as pending finance. When I called, I then found out the owner sold it as a land contract. I would have gone for it while I was there if I had known. Now, all the homes we looked at sold and even the realtor said homes are selling like crazy. There is nothing at the moment on the market that suits my needs that a lender would consider. Meaning, the prices are too low or the homes are way to costly, beyond my means or needs too many repairs from the get go. As for the debt ratio, my loan officer already pulled my credit and that part is fine. The debt ratio due to the car, she feels she can get a lender to accept the two car payments as 12 months since one car was turned in and paid off by the new car creditor. We have 7 months of records as my not paying for it and 12 months on the other car. Plenty of bank statements on both our ends but she made no promises. She does believe she might be able to get a lender to accept both and if she does, I'll post it here along with telling the world what a fantastic LO she is and recommend her highly but, my trek at continuing the search will not stop with her. Many have told me in the past I'd "never" get a loan for various reasons only to find out that was far from the truth. Those reasons may apply to a certain lender but far from all. Far from "never".We've looked into a lease buy out on the car but that would take too long. I don't have the time. I wasn't told about the 12 months of proof until about 2 months ago and by that time, I probably talked to about 15 lenders. None said or even brought up that's all I'd need even before that. Now, I'm short providing proof of payments by 5 months. So, we're into Feb. That's puts the 12 time frame in July. That gives me two months until time runs out. That's not enough time to find a home, go through the lending process...close, and move. That's why I'm determined to find a way to make more time. Even two months more would make a world of difference. If I had been told when I first started looking that a late payment on a student loan 3 years ago wouldn't matter instead of being told "I'd never qualify for a loan through anyone" making me panic and losing more months calling that student loan creditor or, telling me my income will be too low for anyone to consider lending to me no matter what my scores are or how much I have in savings or, telling me my bankruptcy over three years ago doomed me until 2019 (I'm not exactly young) and four or five other things I can remember at this point, I'd have a home right now. Toyota, the new lender wants me to come in Thursday to see if the person I co-signed for now qualifies to get the car into his name.There is a little hope there but I doubt it really.His scores are still about the same, upper 500s but too low but I'll talk to him. The thing that is keeping me from the land contract at this point is I have to stay here until Jun..that is in Ca when my youngest daughter graduates and the next day, my middle daughter is getting married. I also have to stay a few months beyond that to go back to court before she turns 18...time undetermined until I file to do so to try to get back 50K which my ex owes me for our home and is in the final decree. So that means maintain the rent here and the mortgage for a while. With a land contact, even with what I make now that's too hard to juggle financially. I'm paying slightly over 1,500/mo now. Another rent/land contract type, even in MI is around 700-800/mo. I'm looking at 3-400/mo if I get a lender. That I can do and still save money for the actual move.Back to Land Contract. Nothing much out there right now but, if I do go that route, I was told by USDA that I'd still qualify for their program in Sept. as I would not be listed as the owner. Under a mortgage, I wouldn't qualify so there is that but, with out an owner of a reasonable conditioned home, there is nothing to qualify for. I have never seen property move so fast until this year there. I'd say, it's no longer a "buyers market". That's now over.The area isn't that well know or sought after so it's not like moving to...well here where I am now...a tourist trap. No, most people want out of that area. I want in.There has to be a lender out there who also feels it's possible to combine the cars two loans into one for the 12 month requirement. We have the proof one car merged into the other. All of it. We...no I, just need more options on the right lenders/loan officers.Sorry for the long posts.