spouse's information used for our loan, but insurance deducted from her pay

There are so many questions that need to be answered before I could give you the info you need. It sounds like we cannot use your income and will have to use only your wife. The fact that insurance comes out of her check does not matter. What is your wife's gross income before any deductions are made? It would be good if you could tell me the year to date at the end of December. And would need to know her credit score and do you have money for a down payment? Please give me a call and we can go over your situation and see if there is a way to get you in a home. Linda Miller 801.550.1222.

Most lenders use the gross income before any deductions when qualifying a borrower.

Prior to the new rules for qualifying mortgages, my answer would be a solid NO.. it shouldn't matter since health insurance was optional. But now that health insurance is mandatory, there's now an argument that the premium should be considered into one's debt to income ratio. No lender that we have has addressed this just yet, so my guess is that your still ok.. they will not look at the premium as inclusive to your DTI.. Regarding your credit, understand that with FHA, there is little difference in interest rates for a 750 credit score borrower vs. a 640 borrower.. so when you say your credit is messed up, that could mean a lot of things.. Without a look at your complete scenario, it's hard for anyone here to properly advise you..The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Hi, I think I can help you , I'm an idaho based lender and help a lot of folks with challenged credit. 208-391-3742 or email through my profile here. Look forward to speaking with you-- Eric