@Anonymous wrote:
Let's be honest here. A credit score of 597 is not good. Predatory lenders like going after people desperate for loans because they're more willing to take a chance if it seems even a tiny bit legit. I really don't think any lender of respectable reputation would actively seek out a loan from someone in your husband's situation. I'd start finding a way to convince him right away or set up a separate banking account to protect my own money from his trust in this letter. Best of luck to you. My husband & I have worked for 3 years to get our credit up & debts down so we could buy. It takes time & patience. A mortgage will never just show up at your doorstep.
I could not agree more with this statement. OP, if your husband's score is that low, you probably should not be looking to purchase a new home. There are many reasons for the score to be that low. Perhaps he had a recent bankruptcy, or tax lien, or other missed payments. All of these things are fixable in 1-2 years. You will see much more attractive rates once you get the scores up.
Someone soliciting business from someone with a score as low as your husband's sends up a lot of red flags. I'm not sure if working with Quicken is your best option, but I would be EXTREMELY wary of Cityworth. I would probably try to establish a relationship with a local credit union, spend a year with them while working on your DH's scores (and yours too, if necessary), and use that good relationship to get a good mortgage rate from a reputable lender.
