Posted on: 25th May, 2009 08:43 pm
My husband's credit score finally made it to a 620 but mine is still below that at a 582. We have been preapproved for an FHA loan with an approve/ eligible and have a contract on a home. Our mortgage broker decided to try for the Rural Development with just him on the loan since my husband's score went up and the terms would be much better. His debt to income would be over 41% with just him on the loan. Will Rural Development look at DTI ratios over 41%? We meet all the other qualifications. Thank you!
Welcome george,
The lender will take a look at your overall credit report for the last 2 years. If there are a large number of negative items mentioned in your credit report, then you may face issues in getting a mortgage.
The lender will take a look at your overall credit report for the last 2 years. If there are a large number of negative items mentioned in your credit report, then you may face issues in getting a mortgage.
How long will you have to wait to purchase a home after bankruptcy?
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