Often this is not a good idea, but depending upon family circumstances, if you can't get past the "too unstable" portion of lenders' analyses, you might want to

Often this is not a good idea, but depending upon family circumstances, if you can't get past the "too unstable" portion of lenders' analyses, you might want to consider whether you or your wife have well-off family who might be willing to co-sign (or even take over the property and issue their own loan to you). An area fraught with emotional (et al.) landmines. But just if it might, contrary to prevailing wisdom, really fit your circumstances. However, the circumstances would indeed have to be somewhat exceptional. Residential real estate is not a good place for someone senior to be devoting a significant portion of their assets -- or risk exposure. P.S. I'm no financial guru, but I would really hesitate to take an ARM, at this time. You can go down two or more points while staying with a fixed-rate product. Also, I agree that "chicken" is not a good idea. Especially at a place like WF, I think you're basically fighting an algorithm. As they say, good luck with that.