If you have a low to moderate income and are buying in a metropolitan area, check for City, County, and State bond programs. Many times, they offer below market interest rates, lower down payments and higher qualifying ratios. Stable income means that you can prove you make enough money every year to qualify for the loan. If you are salaried, a lender will use your gross monthly salary to qualify you. Alimony and child support can be to used qualify, but you will probably have to prove that you actually receive the money regularly, not merely that you are entitled to it.
Lenders use debt to income ratios to determine qualification.
Acceptable ratios change with the loan program. If you are buying a condo, co-op, or a house that has a homeowner's fee, you will have to add the monthly fee to your PITI to calculate this ratio. Create one from payments you have made on time that are not recorded by the credit bureaus. For example, car insurance payments, college payments, phone, cable and electrical bills and child care expenses. Provide the last 12 months cancelled checks or a letter from the person or company you are paying to verify that you made the payments on time.