Would we qualify?

[Anonymous]

Hello all, I'm just starting to research about mortgages in Texas and if my husband and I would be able to prequalify or run into some issues. Can anyone tell me if they see a possible problem? Here's the scenario:

Him:

• No collections in credit reports
• 1 eviction 7 years ago (paid and satisfied)
• 2 Late payments on a credit card 5 years ago
• Fico between 680-696
• DTI lower than 15%

Me:

• No collections in credit report
• 2 public records for credit card judgements, both showing as "Disposed"
• 1 of those public records showing garnishment judgement but I left that job before wages were garnished
• Fico around 680
• No income (2 credit card payments are made with husbands income)

I'm wondering if those judgements on my public record would interfere with approval if he applied by himself. I didn't know that a creditor was trying to garnish me until I looked myself up out of curiousity. I never received any letters as we recently moved to Texas. I've heard that in Texas they look at both spouses when considering for a mortgage loan even if a spouse wants to apply by themselves.

Any advice would be helpful as we're looking to actually apply in a few months and want to have an idea of what to expect.

[VALoanMaster]

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@Anonymous wrote:

Hello all, I'm just starting to research about mortgages in Texas and if my husband and I would be able to prequalify or run into some issues. Can anyone tell me if they see a possible problem? Here's the scenario:

Him:

• No collections in credit reports
• 1 eviction 7 years ago (paid and satisfied)
• 2 Late payments on a credit card 5 years ago
• Fico between 680-696
• DTI lower than 15%

Me:

• No collections in credit report
• 2 public records for credit card judgements, both showing as "Disposed"
• 1 of those public records showing garnishment judgement but I left that job before wages were garnished
• Fico around 680
• No income (2 credit card payments are made with husbands income)

I'm wondering if those judgements on my public record would interfere with approval if he applied by himself. I didn't know that a creditor was trying to garnish me until I looked myself up out of curiousity. I never received any letters as we recently moved to Texas. I've heard that in Texas they look at both spouses when considering for a mortgage loan even if a spouse wants to apply by themselves.

Any advice would be helpful as we're looking to actually apply in a few months and want to have an idea of what to expect.

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Your husband can apply for a conventional loan by himself and, as long as he qualifies, you should be fine.

Chances are, title will only look for judgements in your current county.