Me and my fiancee are getting married in may. we were hoping to buy a house but i soon found out his credit score..and im pretty sure mine isnt all that great either. The saddest part of it all is he isnt even in debt all that much just by 12,000 or a lil more. anyhoo im just wonderin if theres some place to go to that services in ohio that would possibly do a loan. We need a second chance!
2007-03-26 14:48:49 · 4 answers · asked by *~* Amber *~* 1 in Business & Finance ➔ Credit
When my husband and I got married 9 years ago, our credit was so bad we ended up getting like a 15% interest on a car loan. I was not knowledgeable about credit scores so I can't say for sure what ours was. We just had really really bad credit. We started making sure we paid on time EVERYTHING and got a credit card through Providian. They give you a second chance. Our credit limit was only $400.00 but as we showed responsibility we got a higher limit and eventually got our score up. I just bought a car and my score now is 746. I am in NO WAY saying put credit on a new card, but putting gas on and paying if off each month goes a long way. DO NOT let it get higher than you can pay off. But it looks really good to have perfect history. Providian was such a big part of us rebuilding our history. Enjoy being newly weds, just rent for now and work on your credit. It will be well worth it in the end. Getting a high interest rate for your 1st mortgage is just not worth it. Congrats and I wish you as much love and happiness as we have had.
2007-03-26 15:12:21 · answer #1 · answered by a mom 3 · 0⤊ 0⤋
Big congratulations on your upcoming wedding. It's an exciting time.
I wish our company could offer you a mortgage loan but unfortunately lenders are really cracking down on subprime loans, especially new home loans. 405 is a very low credit score. I advise continuing to raise your credit score at least until it gets to 600 and then apply for a loan.
2007-03-26 15:29:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You need to stop by Linen 'N Things and return that velvet blanket of DENIAL you bought.
Your man is a HOT MESS when it comes to finances and the bliss you imagine after you utter the words, "I do", will come to a crashing halt when you realize that his lack of financial responsibility will spill over to your relationship.
A 405 credit score is HORRIBLE given that the smallest score you can get is 350!!
Let me repeat. A 405 credit score is horrible . . . ugly . . . dilapidated. . . abysmally poor!
You man is like a wounded dog looking for someone . . . anyone who will take care of him given his severely compromised state and lack of character in handling his circumstances.
It is highly unlikely that he will be able to provide for you when his credit smells like gourmet sanitation. But it is very probable that he will have a mountain of excuses to explain his 405 FICO score.
You want a second chance. You already HAVE IT. It's just NOT with MARRYING him in his current state. He is not ready to be a provider in the institution of marriage. His credit score clearly evidences this. And furthermore, you can pitch the whole HOUSE thing -- a 405 FICO score officially places you in public housing (a lot of which is being torn down!).
You already know all of this, but since you don't value yourself as you should, you will settle for him -- because you honestly wonder will a better man come into your life.
And believe me, sister girl, you are SETTLING for an uncreditworthy and irresponsible man.
You couldn't do much worse by yourself.
When you realize that you are a priceless woman who deserves to be treated with dignity and respect, you will know exactly what to tell your fiance about the upcoming marriage.
2007-03-26 15:38:17 · answer #3 · answered by DaMan 5 · 0⤊ 1⤋
Without 20% down, you won't be finding a home mortgage lender.
Pay off your debts, work 2 jobs each to save money, then worry about buying a house.
Congrats and good luck.
2007-03-26 14:52:50 · answer #4 · answered by Gem 7 · 0⤊ 0⤋