cancel
Showing results for 
Search instead for 
Did you mean: 

Mortgage Question

tag
Anonymous
Not applicable

Mortgage Question

Hello,
 
My median credit score is 620 while my husbands is 700 and our combined salary is  >250K.  Will I drag down the interest rate or type of deal we get on a mortgage or can I coat tail off of his good credit until I can increase mine?
 
Also, we plan on putting 10% down payment
 
Thanks


Message Edited by improvement on 09-06-2007 02:29 PM
Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Mortgage Question



@Anonymous wrote:
Hello,
My median credit score is 620 while my husbands is 700 and our combined salary is >250K. Will I drag down the interest rate or type of deal we get on a mortgage or can I coat tail off of his good credit until I can increase mine?
Also, we plan on putting 10% down payment
Thanks


Message Edited by improvement on 09-06-2007 02:29 PM




Who makes more money?
Loan amount?
Message 2 of 4
Anonymous
Not applicable

Re: Mortgage Question

Husband makes more and loan amount around 500k
Message 3 of 4
Anonymous
Not applicable

Re: Mortgage Question

if all else is good -

Because of loan amount- It will be in the "jumbo" category
about 7.1 to 8% (depending where) and fully documented income.

500K at 7.5 is $3,500 a month PLUS Taxes, insurance and PMI

As his income and score are higher you should be golden-

Time to PM the "OneMortgageGuy"
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.