I have terrible credit but earn more than my spouse who’s credit is perfect – can we get a mortgage?
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I have really terrible credit (500’s) while my other half has a terrific score but makes significantly less than I do… I know this is a good time to BUY but a hard time to get financed… What are our options?
We don’t want a huge loan… 90-130k
probably not because your credit (by virtue of marrying) pulls his credit down…..
All you need is time……work extra jobs/cut the cable bill/lower the cell plan/etc…..get a cheaper apt…..in two years your credit will rise and you will have a healthy down payment saved up and get a great price with a great interest rate…
Spend the next 6 months getting then bad credit cleaned up. It will still be a good time to buy in 6 months.
If you need both incomes to qualify, then both credit histories are considered by the lender. You don’t get to “pick and choose.”
My suggestion would be to check with a bank. My husband and I had the exact same situation and we got our loan for 92,5. You never know without checking.
Good luck!