What type of mortgage loan can we expect?

Deal Score0

Combining all 3 credit scores, I average 674. My spouse averages 630. We are both municipal employees with very stable jobs. We have a combined income of 120,000 and 30,000 in cash for down-payment. In the last 4 years we have never been late paying bills. An overpayment from Social Security, and a fraudulent account (just wrapped in court) is really damaging my report. Any advice would be greatly appreciated. Thanks

1 Comment
  1. Reply
    MadMan
    May 15, 2011 at 1:11 am

    Average does not matter. Some lenders look at the lowest, some the mid. Your spouse’s scores are bad, only just good enough for an FHA loan. Yours are better but not great. Really, you need scores over 700. You should wait until your scores are better.

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