Posted on: 02nd Sep, 2013 01:59 am
My husband and I are refinancing our mortgage. At least that is what we aim to. My credit score is 722 but my husband's is 633. Will we be able to refinance the loan?
Well, your husband's credit score is accurate for refinancing, as the creditors may consider it as good financial health. However, you can try to apply for a mortgage refinance from your creditor.
If you are planning for a conventional refinance, then the score of your husband (633) is quite low. The lender will want both of you to have a score more than 720 to get qualified for refinancing. Your husband should take steps to improve his score and then look out for a loan.
Why don't you take some credit repair steps in order to qualify for a mortgage refinance loan?