Can I get a mortgage loan?

[Anonymous]

I make $28,000 per year and I have been rebuilding my credit for awhile now. I have some old collections mainly medical over two years old and they total about $2000. I have 17,000 in student loan debt that is in repayment and current.Payments are $25 and $82 a month. I have a $3500 limit cc opened with NFCU last week which I don't intend on using. I have a $10,000 auto loan with NFCU opened in Dec 09 w pmts of $250 a month. I have two small limit cc which never carry a balance. My debt to income ration and cc utilization is great. I have a BK discharged in 2001. My scores are currently all in the 650-670 range. I have a house that is owner financed in both mine and my husbands name. We have a balloon due in Jan 2011 so we want to refinance. We only owe $55k and it appraises for $108k. Will I be able to refinance this house in my name only with my low income and current debt? My husbands credit is trashed so I can't use him on the loan. He makes $80k a year so that really stinks I can't apply with him. Please let me know if anyone has any opinions or advice on when or how I should go about applying for a mortgage in my name only. Also I have $6000 in savings so I could almost pay off my auto loan if that is a problelm. I'm hoping to use NFCU since they have been so good to me w/ auto and cc but I don't know how soon is to soon to apply. Thanks!

[Anonymous]

Only one way to find out.  Go ask NFCU.  If they have issues with your credit profile, you'll know where you stand and what you have to do.

[Anonymous]

What state are you located in.

[Anonymous]

Yes, one way to find out for sure, apply.  I would stick with local banks vs a broker since the loan amount will be small.  It looks like it is possible.  It wouldn't hurt to start rebuilding his credit though   Also, applying sooner is better.  If you need to work on something that gives you more time to figure it out.  Good luck!