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Long story short I have good credit and my husband has eh credit. Mine is in the 690s with the last of my baddies falling off in spring and his is in the 620s with a lot of work to do.
My current debt is as follows
Student Loan $2500 total
Car: 320 a month 10k totoal
Credit cards: 0 I just let them report 1-3% utl and pay off monthly.
My income is only 35k a year
So my question is could I get a morgage for 130k max without my hustband with that kind of dti? or should I sell him the car to lower my dti?
Are you in a community property state? This makes the difference in the answer to your question.
Are you repaying your student loans now or are they in forbearance or deferment?
What is your actual payment on the credit cards (monthly)? The utilization doesn't apply when discussing mortgages, it is the monthly payment that matters.
What type of income do you have, W-2 type or 1099 type? Are you an hourly employee or salary and how long have you been working in your field?
Also, your husband's score of 620 is enough for an FHA type mortgage for many lenders. Your interest rate won't increase with an FHA mortgage with his score or your score as FHA mortgages are not rate sensitive in the score range you mentioned. I am assuming you are using mortgage scores and not FICO 8 scores.
Conventional loans are rate sensitive so if you are going for a conventional loan, then it makes sense to leave him off the loan. But you would need to compare the loans anyway as even at your score, the interest rate will be much higher (and the PMI cost if applicable) for a conventional loan.
I live in Michigan which is not a community property state
I am repaying my student loans now
My min credit card payment is $20
My income is W-2 Hourly salary working there 2.5 years making 35k a year.