scheeljason asked:


I don’t have poor credit but my wife’s is good. We are wanting to buy a house at the end of the year. We are have been slowly trying to fix my credit but it takes time. Will we be able to get a home lone? What can we do to ensure that we get good rates on a home lone even though only one of us has good credit?

Ashley

xred383x asked:


My partner and I have very bad credit ratings and would like to buy a house and clear our debt, but is it possible? Or do we have to clear our debt to begin with? Will we be able to get a mortgage?

Luke

“D” asked:


Well me and my fience are engaged to be married on 8/12/2008 and were trying to figure out housing arrangements. Together we have the correct income to debt ratio of about 33-40 precent of our money being spent before morgage payments. She has great credit, approximately a 735-750. BUT I have bad credit.. approximately 550.. made some mistakes when I turned 18 and some medical collections. Less than 2200 in total debt though. Is it possible for us to buy a house with little to no down payment? If we buy with her only on the house, is my income included when it comes to their consideration still because we will be married? Should we just try to get it with both of us on it? See were considering a FHA loan with a program that pays 3-6% of the total cost of the house toward down payment and closing costs if we qualify. We have a list of realitors who can set that up as long as the FHA loan goes thru. BUT with all this information shaired is it possible? We want in now due to low %% rates.

Matthew

jay s asked:


I am 27 years old, and I have really bad credit. I havent put much debt on my record in the last 3-5 years, and actually should be improving it as we speak. I want to buy a house in the range of like $120,000-$160,000. I dont have much money to put as downpayment, maybe like $5,000. I do plan on doing like a debt consolitdator to pay off credit card debts and charge offs that i may have from previous “party days”. How should i go about getting a loan for that much? I know that most banks will not even consider. Should i buy if i get a loan or wait until i pay off my debts, so that i can get better mortgage rates. I am not that educated on this, but am trying to understand the loan and equity world. Please any advice would be appreciated, and ill give 5 star answer to the best! Please no stupid answers like I should have not ran up so much debt or not partied so much in my days. I am aware of this and Im seeking advice on how to deal with it. Thank you!

Kevin