Pease HELP! Mortage with limited credit history!

[Anonymous]

So I have an appointment with a loan officer on Saturday. Here's my concern. The loan will only be on my husband's name. He's been at his job 3 years. Makes about 55,000 annually. First time buyer. 613 middle credit score. The problem is that on experian he only has to things on his report. A car loan always paid on time open for 7 months and a credit card $200 limit only open for a month. Nothing else. Everything else has fallen off so it makes it look like he hasn't had credit very long. On transunion he has 2 collects for doctor bills. And experian he has a car repossion for 8000 that is going to fall off in 4 months. Do you think we have any chance for qualifying for a loan? Even a subpar one. I'm super nervous about it.

[Anonymous]

That's is supposed to say 2 things not to. Sorry for the typos it's my phones fault!

[_NERD]

The repo can get deleted through Early Exclusion (EE).

Are you in a community property state? My DW has only one open TL on her reoorts and I have 7, but she's the primary borrower I've been told more than once on this forum that as long as we had at least 3 active TLs between us, that would be good enough as long as our overall profiles looked good.

If you're in a community property state, what kind of TLs do you have on your credit profiles?other members will weigh in soon enough, also.

[Anonymous]

U have tried multiple time to get the repo deleted throught early exclusion they keep telling me it's to far away. I can still keep trying. But what I'm worried about is that's the oldest thing on his report. With out it, it only looks like he has had credit for less than a year. I don't know what's better to keep it or to delete it. Yes we live in a community state. California. My credit report is a mess. TL stands for trade line correct? What exactly is a trade line? I also only have the same car loan and a credit card with the same limit. Also thank you so much for your responds.

[Anonymous]

*I have tried

[Anonymous]

Anybody else have any insight on this?

[Anonymous]

What is the balance on his CC?  With a small limit of $200, pretty much any balance due over $60 is likely killing his score in regards to utilization. 

[_NERD]

Try Tue EE route for the repo online instead of over the phone.

[Anonymous]

Do you have anything reporting on your report? If you have a credit card in good standing, adding him as an authorized user will help his score. Your LO should tell you exactly what to do, down to the dollar, to get him the points he needs.