Posted on: 23rd Feb, 2006 07:28 am
will it be hard to get loan approval on a vehicle on a joint application if one has a 787 beacon and the other a 597
I think no, did you contact any lender on this.
I think you can get the approval easily and how does that matter if its a joint application.
I think you can get the approval easily and how does that matter if its a joint application.
because of the 597 beacon I am told that is poor and a lender would give me like 15-20% interest so we did the joint so we would get the better interest rate and I need to build my credit
Yeah, its right that its not a healthy beacon but there are many lenders in the industry who can help you thats too at lower rate. All you have to do is shop well.
And your move is also not wrong, as you will find many people taking loan on wifes name because of her good credit. So if you are going in joint application then there is no harm in it.
And your move is also not wrong, as you will find many people taking loan on wifes name because of her good credit. So if you are going in joint application then there is no harm in it.
I just hope it will get approved
I would think it would be ok
Hi,
Welcome to MortgageFit Forums.
Mac has advised you correctly that one might get a better rate with a little bit of shopping as there is a growing possibility with the increase in competition.
Although, 597 is not a good score but a joint application may help you in getting a loan. By the way why don't the partner with 787 tries for the loan separately as I feel it will be much easier to get a loan with such score and that too at a good rate.
God bless you.
For MortgageFit,
Samantha
Welcome to MortgageFit Forums.
Mac has advised you correctly that one might get a better rate with a little bit of shopping as there is a growing possibility with the increase in competition.
Although, 597 is not a good score but a joint application may help you in getting a loan. By the way why don't the partner with 787 tries for the loan separately as I feel it will be much easier to get a loan with such score and that too at a good rate.
God bless you.
For MortgageFit,
Samantha
