Hello everyone,
I sold my last home in 12/06 because I could see the markets going down. I was divorced at that time. I have been renting since then. I remarried in 7/07. My credit before my marriage was 800-850. After I got married, I must have gone brain dead, because I was late x30d on one acct, x60d on another acct and accidently picked up the wrong checkbook to write a check for something when we had closed that checking account and never found out about it until it wound up in collections a year later. I am current on everything and have been since 2/08. My credit scores now are all in the low to mid 700s.
As far as my husband, he was not good with his money before we were married. He had a number of paid collections (4) for small amounts. He has a car loan x2 years that has alwasy been current as well as 3 other credit cards. We also have a time share loan together that is 8 months old and never late. When we first pulled his credit, the middle score was 570. Since then, we paid off all of his credit cards, because his credit limits are so low, any balance at all, makes for a bad ratio. So, I'm hoping once that hits the credit report agencies, it will boost him above 580-the magic number for an FHA loan.
We are both empoyeed and make 135k per year. We have 65k in debt....most under my name. i am trying to pay that down. We have 24k in savings and 25k in retirement. I have another investment that is worth about 50k. We are looking at a mortgage of about 385k
Does it seem like we could get approved? What do you think?
