Pat asked:
Our combine gross income is $120K (I make 70K). Student loan/car loans amount to about 45K total right now ($750/monthly). Her score is in the low 700's, mine unfortunately is on the upper 500's. I just recently paid off all outstanding debts on my credit report. Can we get a good loan?
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Our combine gross income is $120K (I make 70K). Student loan/car loans amount to about 45K total right now ($750/monthly). Her score is in the low 700's, mine unfortunately is on the upper 500's. I just recently paid off all outstanding debts on my credit report. Can we get a good loan?
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Why aren't people with a sketchy employment history allowed to start over like bad credit people?
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You can get a loan based solely on her credit report which would save you a lot right now. I don’t know about FHA but if it is a first home then you should be able to.
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As long as your credit report has been updated to show the debt is paid, or you have the documentation to prove this, your combined debt ratio will have been improved. Paying off debt does not immediately raise your credit score. In fact, too many inquiries into your credit can lower the score. Avoid allowing multiple Lenders to order your credit report. Having one Lender pre-qualify the both of you would be helpful to determine what loan amount would keep you in the FHA Guidelines of the Sate and County you are purchasing in, along with the Back ratio (Total income divided into all monthly debt including the TOTAL proposed home payment)
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Hi,
I used “Credit Solution” to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It’s legitimate.I came across this company on NBC News.Check it out here: