I haven't had any bad credit reporting in the past 3 years. Will we be able to get a mortgage? Putting in paperwork this week, just nervous.
2007-02-13 15:19:21 · 7 answers · asked by navydave1974 2 in Business & Finance ➔ Credit
Yes, just find a realtor and mortgage lender that will help you clean up anything negative on your credit report. And do what they say...it's hard to do all that paperwork, difficult to change your spending habits and priorities, and difficult not to dream about having your big beautiful brand new house as your first new home. But it is worth the effort.
And keep in mind, you don't have to spend every penny you are approved for. Stay UNDER the amount you qualify for, and you'll have an easier time financing and finding a new home. And have some breathing room for all the expenses you will incur besides the house (insurance; new stuff for home; maintenance, etc.)
Good luck!
2007-02-13 15:26:27 · answer #1 · answered by Karen? 3 · 1⤊ 0⤋
This should not be an issue. Some new mortgages use the highest credit score as well as the combined income. Works great for your type of circumstance.
Here is a link to a good interest rate calculator and a sign that can answer more questions about this kind of mortgage.
http://www.answerslinks.com/mortgage.asp
2007-02-13 23:30:07 · answer #2 · answered by bcm_s19 2 · 0⤊ 0⤋
720 is excellent and 573 is not very good, but with her score you guys will be fine.
It may be that you will have to have only her name on the loan, but you can still put both your names on the deed.
2007-02-14 10:52:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
my husband qualified by himself with a score under 650. mine was right under 600 so they didn't use me which is alright in Alabama but my name is on the house and equal in ownership. i make twice as much and he had a bankruptcy 7 years ago so that was weird, but whatever to get qualified and best interest rate. good luck.
2007-02-13 23:56:15 · answer #4 · answered by bulloch2004 2 · 0⤊ 0⤋
Sure try to find a house with no down payment, 0 down, I know hard to find, talk with a real estate investor, or just call some brokers!!!!!!!!!!!!!! I mean her score is great so it should out weigh yours.
2007-02-13 23:22:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋
yes I don,t see why not good luck on getting your house
2007-02-14 01:59:48 · answer #6 · answered by pattibcacl 6 · 0⤊ 0⤋
defiintaly :)
2007-02-13 23:22:14 · answer #7 · answered by Anonymous · 0⤊ 0⤋