02-19-2013 07:26 PM
I am wanting to know what can I do to buy my wife her dream house. Since Jan.2013 she has been working hard to improve my score to get this house she found for 159,900. She as paid off 3 of the 4 accounts in collection and got them deleted off my credit report. We are waiting on the most recent one to be deleted the first of March. So that should make the score go up more.She also have each account that was deleted in writing stating paid in full and to be delete. My score has gone up tremendously from where she started. My eq 565 Tu 659 ex 620
I make around 32,000 and have about 19,000 of debt which include a car loan with a balance of 17,000. If anyone has some positive information for me please share it. I need some advice n FHA and USDA loans as well.
02-19-2013 07:38 PM
02-19-2013 07:39 PM
that is a lot of house for $32000 income
what is car payment?
do you know how much taxes run?
02-19-2013 08:23 PM
car is only debt payment?
this house + car pmt puts your debt ratio over 55% and doesnt include any other pmts
i know i dont go that high..... and you would need serious compensating factors if you found a lender who did.
02-20-2013 04:30 AM
02-21-2013 08:55 AM
OP, your debt as compared to your income is simply too tight at current. However, I'd look into the differences between your Equifax score and the others since it appears it isn't reporting the same information given the large difference. Maybe the EQ score is missing your deleted collections?
As MovingForward says, that car payment is holding you back. Maybe once the EQ score gets righted you can 1) refinance or 2) trade for something with a lower payment.
Does your wife have no income currently?
02-21-2013 08:41 PM
She does have income. Her annual income is about 22,000. Her scores are in the low 500. I have talked to several LO and not been able to get any information about FHA or USDA loans. Each time I speak with one they always want to pull my credit. I am wondering if I could get the car refinance? Will my current scores allow it? Any suggestions would be helpful.
02-22-2013 05:30 AM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.