I have terrible credit but earn more than my spouse who’s credit is perfect – can we get a mortgage?

Deal Score0

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

  1. Reply
    Paula M
    May 16, 2011 at 11:23 pm

    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…

  2. Reply
    May 16, 2011 at 11:53 pm

    Spend the next 6 months getting then bad credit cleaned up. It will still be a good time to buy in 6 months.

  3. Reply
    May 17, 2011 at 12:03 am

    If you need both incomes to qualify, then both credit histories are considered by the lender. You don’t get to “pick and choose.”

  4. Reply
    Sokoh's toy
    May 17, 2011 at 12:46 am

    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!

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