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California Mortgage Loan Question?
My boyfriend and I would like to purchase a house at $255K. Since we are 1st time home owner, we can apply for FHA. We can put in $15,000 for down payment. My boyfriend made $29,000 last year (W2 gross) and I made $19,000 gross. However, I was promoted at the end of last year thus my income for 2011 would be around $37,000. My boyfriend has extra income but he didn't report it. He's currently making $3,200 a month but only reporting partial. How much do you think we're qualified for? I still owe some student loan but it's only around $5000.

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