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will i qualify alone

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Regular Contributor

will i qualify alone

hello just wondering if i can qualify for fha loan of 185000 to 200000 by myself (my scores are higher than husbands)  just checked my fico my current transunion is 648 equifax 628 and experian 633? the problem is i was a bar tender for past three years and on my w2 it shows i made less than 10k previous two years i have gone back to being a hair stylist and show on w2 making around 2k per month without tips if i include tips its around 2800 to 3000 on average.  my husband is the bread winner he brings in around 70k a year but unfortunetly does not have good credit.  we have the money to cover down payment closing costs and four to five months reserved.  any advice would help before i make the decision to apply or not. 

 

thank you for any help

Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
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Contributor

Re: will i qualify alone

Few questions:

 

1) Do you live in a community state? (http://en.wikipedia.org/wiki/Community_property)

2) What are your monthly expenses? (credit card min. payments, car payment, loans, etc)

3) Are those FICO or FAKO scores? Where did you get them from?

 

 

 

 

 

Message 2 of 4
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Regular Contributor

Re: will i qualify alone

i have no debt i put fifty dollars a month on a dredit card and pay it off.  I live in st louis mo.  got those scores from here my fico.  experian from free credit report which i know is a joke but the reports are all consistent.  i have three collections from five years ago.  two open credit cards 1000 limits.  no i do not live in a community state. i dont owe anything on any cars, loans or anything.  i owe on student loans that are in default almost out of default three more months of remedy payments. 

Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Message 3 of 4
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Regular Contributor

Re: will i qualify alone

I think you will find this link very useful.

 

 

TBC

AUDE VIDE TACE :
Starting Score: 684
Current Scores: EQ 796 TU 794 EX 750 (All lender pulls on 2/9/12)
Goal Score: 800 all 3
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