General Credit Topics

[cinoeye]

Since wife and I want to applay for morgage loan, what scores are they gona look?

Is there an option for morgage to be only on me, since I'm in upper 600 and she is lower 600's with some bad things on her CR?

She is also maiking more money them me.

The only anvantage is if we do it toghether we will have better debt to income ratio.

Thank you!

Message Edited by cinoeye on 06-19-2007 03:03 PM

[Tuscani]

Generally all three for a mortgage.

[cinoeye]

Thank you!

Message Edited by cinoeye on 06-19-2007 05:35 PM

[Sillygirl]

My husband and I are shopping for a loan too and the broker I spoke with said that the higher income earner's scores will be viewed more heavily. THey will still looks at all three CRAs.

[cinoeye]

That's where the problem is.

She is making more money, but my scores are upper 600's and one above 700, while she is lower 600's.

WHat do do in this case?

[MidnightVoice]

How much time do you have?

[Sillygirl]

Our broker suggested that, if one of us were hourly, that person could temporarily cut back their hours to decrease their income.  I don't know if that will owrk in your situation, but one possibility.

[masdeocho]

---

Sillygirl wrote:

Our broker suggested that, if one of us were hourly, that person could temporarily cut back their hours to decrease their income.  I don't know if that will owrk in your situation, but one possibility.

---

Why would you want to decrease your income?

[Sillygirl]

Our incomes are very close to each other, so the impact was not going to be as great.

[MidnightVoice]

But it will reduce the amount they will loan you, and increase the debt to income ratio

Message Edited by MidnightVoice on 06-20-2007 01:23 PM