[KC]

...mortgage? 4x? Also, no initial cost mortgages, worth it? I'm looking to find out what banks would "typically" require for income for a mortgage. Also, if they would look at gross pay or net pay, what debts they look for to calculate it, and if they include home-owner's insurance in the estimate of a monthly payment. Also, my wife and I have student loans, but they are on deferment since we are both in school. Would it make any different if we got the loan before my wife's payment became due in January? I'm not interested in doing any kind of high risk loan. I just want a strictly "safe" 20% down, 30 year mortgage.My story is this: I'm trying to finish college. I decided that I wanted to get married young, then we had my daughter which slowed school down a lot. I had about a year before finishing, then we just found out that my wife was pregnant again, even though we took precautions against it. Now that I'm looking at having two children, I feel like I need to get out of these apartment complexes and get into a solid home that I can call my own. I understand that there are plenty of benefits to apartments, like on-site maintenance, but I'm pretty handy and the benefits are losing their value. I've looked around at several houses in the area and found some relatively cheap houses on the market that would fit my wife's and my tastes. I have access to enough money for a 20% down payment for most of these houses. My biggest worry about affording a house would be the closing and other associated costs. Bank of America offers a no-closing-cost loan, but I feel like they might have such a high interest rate that it wouldn't even be worth it. Does anyone have any experience with this loan or something else similar?