cancel
Showing results for 
Search instead for 
Did you mean: 

Home Loan

tag
Anonymous
Not applicable

Home Loan

DO I HAVE A CHANCE AT ALL AT BUYING A HOME? 

I have worker really hard at raising my scores. Experian 737- Transunion- 737 Equifax- 707. I make $70,000.00 per year salary. I have been at my current job for eight years. I have 10% down for a loan of $150,000.00 Here is my dilemma. My wife has a home currently in foreclosure. It was a bad investment idea. I am not on the loan or title, however we do file taxes together. I was told I can leave her off of a conventional loan. What are my chances here?

Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Home Loan

As long as you don't live in a community property state, you can purchase a home without consideration of her debts or income.
Message 2 of 4
medicgrrl
Valued Contributor

Re: Home Loan

You should be able to obtain the mortgage on your own.  What state are you in?  Does she have to be on the deed in your state?  Biggest concern would be that the current mortgage company obtains a judgement against her and she is on the deed to the new property.


EQ 778 EXP 782 TU 729
Message 3 of 4
llecs
Moderator Emeritus

Re: Home Loan


james4jc wrote:

I have worker really hard at raising my scores. Experian 737- Transunion- 737 Equifax- 707.


I'll let the experts chime in on everything else, but be sure to pull your FICO scores ASAP. You mentioned an Experian score, but Experian stopped allowing consumers to pull their own FICO score back in mid-February.
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.