Results 1 to 3 of 3
  1. #1
    Tressa Watts
    Guest

    Default Home buying question

    I have recently found a house we would like to buy. It is 2 times the size of my house but with the equity built up in my house we would only be increasing our mortgage by $10,000. Not to mention less money spent on irrigation, and pool chemicals for our inground pool. My concern is....I do not have the best credit rating. Went through a divorce5 years ago and still "rocked" a little from it. My credit rating is around 600. My boyfreind of 4 years has Perfect credit..like in the 800s. Our problem is...he has ZERO income but the good credit rating. (he is a full time college student) I make $68,000 a year. We will be putting down $60,000 on a $170,000 house. If we are not married can we get a loan together with his good credit and my low debt to income ratio but BAD credit? Would it help or hurt if we are married?

    Thank you,

    Tressa in Washington

    <hr>The best games are on Xbox 360. Click here for a special offer on an Xbox 360 Console. Get it now!




  2. #2
    libramommy66@brier.net
    Guest

    Default Home buying question

    We sold our old house last yr to my nephew and his girlfriend...she

    wasn't working at the time...but her credit rating was better than my

    nephews and he couldn't get it financed without her credit..go figure...



    Good luck..hope it all works out for you...please let us know how it

    works out for ya!



    LaRae

    On 12/13/2007, "Tressa Watts" <TressaPSGT@hotmail.com> wrote:



    >

    >I have recently found a house we would like to buy. It is 2 times the size of

    my house but with the equity built up in my house we would only be increasing

    our mortgage by $10,000. Not to mention less money spent on irrigation, and pool

    chemicals for our inground pool. My concern is....I do not have the best credit

    rating. Went through a divorce 5 years ago and still "rocked" a little from it.

    My credit rating is around 600. My boyfreind of 4 years has Perfect credit..like

    in the 800s. Our problem is...he has ZERO income but the good credit rating. (he

    is a full time college student) I make $68,000 a year. We will be putting down

    $60,000 on a $170,000 house. If we are not married can we get a loan together

    with his good credit and my low debt to income ratio but BAD credit? Would it

    help or hurt if we are married?

    >Thank you,

    >Tressa in Washington

    >_________________________________________________ ________________

    >The best games are on Xbox 360. Click here for a special offer on an Xbox 360

    Console.

    >http://www.xbox.com/en-US/hardware/wheretobuy/)






  3. #3
    Herlean
    Guest

    Default Home buying question

    If HE bought the house, with his credit score, he would get an excellent interest rate on the loan. If YOU buy the house, they will use your credit history. If YOU BUY IT TOGETHER, they will use your credit history in factoring in the decision and jack up the rates, since your's is worse than his. It will count. Herlean

    Tressa Watts <TressaPSGT@hotmail.com> wrote: I have recently found a house we would like to buy. It is 2 times the size of my house but with the equity built up in my house we would only be increasing our mortgage by $10,000. Not to mention less money spent on irrigation, and pool chemicals for our
    inground pool. My concern is....I do not have the best credit rating. Went through a divorce5 years ago and still "rocked" a little from it. My credit rating is around 600. My boyfreind of 4 years has Perfect credit..like in the 800s. Our problem is...he has ZERO income but the good credit rating. (he is a full time college student) I make $68,000 a year. We will be putting down $60,000 on a $170,000 house. If we are not married can we get a loan together with his good credit and my low debt to income ratio but BAD credit? Would it help or hurt if we are married?
    Thank you,
    Tressa in Washington

    The best games are on Xbox 360. Click here for a special offer on an Xbox 360 Console. Get it now! white;" width="1">



    &#32;
    Never miss a thing. Make Yahoo your homepage.



 

 

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •