Posted on: 09th Jul, 2009 07:08 am
I am looking to purchase my first home in Boca Raton, FL where I currently live. I am married, but my husbands credit is not good even though his income is significantly higher than mine. His middle credit score is a 534 and my middle is a 655. My income is $40k /yr and my husband is $70k/yr. I would like to try and qualify for an FHA. Is that resonable? I have two credit cards in my name each lower than half the credit line and I have never been late on a payment. I have a CH7 from 2005. I have a car payment in my name as well. I have been at my job for 2 years and work for the governement.
Is there any type of loan I would qualify for in an amount around $190k?
Thanks,
K. Bayarri
Is there any type of loan I would qualify for in an amount around $190k?
Thanks,
K. Bayarri
k - it looks like, to me, that $190K is going to be out of your range. you didn't indicate how much your car loan payment is, but if you factor that in along with the monthly payment that a loan of that nature would give you, i suspect your debt ratios will exceed what will be allowed to get you the loan you are seeking.
truthfully, there's too little detail in your post to say for certain just where you stand.
truthfully, there's too little detail in your post to say for certain just where you stand.