Posted on: 09th Jun, 2009 01:02 pm
My wife has little debt and a pretty good credit score (around 700). I however have terrible credit (around 500) and a ton of debt due to student loans. I am trying to get things cleaned up, so no need to lecture...but I do expect it to take a number of years.
However, we do have a reasonable income (around $100,000) and she makes around $45K of that. We can easily make the 3.5%. My question is: Can she apply and qualify alone? Should I be on the app?
Is there anything else we should do? Any ideas?
However, we do have a reasonable income (around $100,000) and she makes around $45K of that. We can easily make the 3.5%. My question is: Can she apply and qualify alone? Should I be on the app?
Is there anything else we should do? Any ideas?
MSPMover there is more information required to see if your wife will qualify on her own. How much is the purchase price, what are the annual taxes and insurance on the property as well. Also what are her debt expenses per month. If you wish to email me direct to go over this in more detail I can be reached at "brian@bffconsulting.com"
[Email address deactivated as per forum rules]
[Email address deactivated as per forum rules]
I was just approved for an FHA mortgage on my own, because there were discrepancies in my husband's credit reports. Small stuff, like typos, not real problems, but even though we sent the SS card, FHA is being really picky and wouldn't accept it. So we were able to have the loan approved in my name only. He doesn't have any income right now, so it wasn't a problem. His score is much higher than mine though.
