Q: I?m newly married and my husband has less than perfect credit but my credit is above a 660. i currently work at a credit union and we are looking to get a home within the next year and I wanted to know if you think that would be possible? If they only will let me get the home loan in my name will they consider both of our income because he makes way more than I do and he has been at his job for more than 4 years? Thanks.
?Anonymous, Appleton, WI
A: You should absolutely be able to qualify for a home based on the limited information you gave me. You should get pre-qualified by a bank or credit union where you work to find out how much you qualify for and how much of a down payment you would need. If you need a great referral for a real estate agent in your area, let me know.
Monique Higginson is Realtor? with Market Source Real Estate in Salt Lake City, UT.
A: Make an appointment with a loan officer and ask him to do a pre-qualification for the purchase of you house. I am sure you will get a realistic answer.
Mercedes Solano is a Realtor? with Amer Ex Realty Inc. in Bellflower, CA.
A: Hi, Although you work for a credit union, there may be a bank or lending company that has the ability to help you. The only people that can tell you if it is possible is a loan officer. I wouldn?t give up on the first one. I know many people who get turned down but didn?t talk to a really good loan officer and could have closed on a home. The alternative is to seek out a way to increase your husband?s credit. Depending on what is on his credit and what type of loans he will qualify for will differentiate between banks.
Suzanne White is a Realtor? with McBride Kelly & Associates in Tampa, FL.
A: You need to speak with a lender not a Realtor?. You say you work at a credit union and that would be the place to start since they know you.
Kathryn Copeland is a Realtor? with Coldwell Banker Residential Real Estate in Winter Park, FL.
A: I suggest speaking with a local agent in your market, and getting a referral to a good lender. Of course, since you work for the credit union, you may want to speak with one of your loan officers there. The only real problem with credit unions typically is their lack of flexibility with loan programs.
David Welch is a Realtor? with RE/MAX 200 Realty in Winter Park, FL.
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