Help me figure this out? [TX]

Hi there,

My husband and I are looking to buy our first home in the DFW area. We have been saving for the down payment while renting an apartment, but we would like to still take advantage of down payment assistance programs if we can qualify.

My brother-in-law recently bought his first home in the area with down payment assistance because his (single) income qualified ($39,000/yr). He did this straight out of moving out of his parents house because he thinks renting is throwing away money… his choice.

My husband and I have a combined income of $116,000 and we don't qualify for any of the assistance programs I can find. My brother-in-law has convinced my husband that we can qualify for the down-payment assistance with one of our incomes and then have the mortgage under both incomes. This seems fishy to me and sounds like something a lender couldn't do even if they wanted to.

I've been scouring google/reddit for the legality of using half of a household income to get down payment assistance, but still using both incomes for the mortgage. I have come up with nothing to get this idea out of my husband's head. Can anyone help?

More real estate tips at Program Realty Wix site

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