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Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
Thank you again for your reply.
I have hit a plateau as to not being able to get over the 595 hump. Trying to figure out what to do to get it higher.
The reason I want my name on the mortgage is because I make much more money than her. My girlfriend makes only $13 / an hour. I make a 50K salary. If she is the only one on the mortgage, I assume they only go off of her income or would they take both of our incomes into account when applying for the loan?
Thank you in advance!
J
For your income to be considered, you would need to be on the mortgage as well.
Have you been reading up in the rebuilding section? Maybe if you offer some details of your situation, and what you've done so far, people could offer you some suggestions on increasing your score.
K
@ba6412 wrote:Thank you again for your reply.
I have hit a plateau as to not being able to get over the 595 hump. Trying to figure out what to do to get it higher.
The reason I want my name on the mortgage is because I make much more money than her. My girlfriend makes only $13 / an hour. I make a 50K salary. If she is the only one on the mortgage, I assume they only go off of her income or would they take both of our incomes into account when applying for the loan?
Thank you in advance!
J
^^^there are two parts to rebuilding: fixing the derogatories is one part and getting new credit is the other part. If you don't have any new credit or open TL's that will hinder your rebuilding efforts. As someone above suggested, go to the rebuilding forum here and put in your details so others can help. http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/bd-p/rebuildingcredit
Thank you!! I will do what you suggested. I am at 595. I would put myself on the mortgage if I could get myself up to 700 or a little less. We don't plan to buy until February.
Thanks again all!
J
You got plenty of time to rebuild. If she has any good credit cards in good standing, have her add you as an authorized user.
I am a lender in Metro Detroit. The best way is to have her on the loan and you on title with her. If she cannot qualify on her own, there are loan programs allowing a credit score of 595. If you want to look over loan options, or have more questions let me know.
Derek