There is a good chance you can do something now. Removing the disputes from your credit report will not effect your scores at all. You do not get a benefit from disputing an item credit wise and all lenders make you remove them.
For you to move forward now you would nee to remove those disputed items. I have to do that form time to time with my clients. All you do is have the the brokers or lender's company they use to pull credit reports call you and then call the different credit vendors and remove the dispute notes from the account. From there they will need to re-pull credit but while your scores may change somewhat depending on the activity your credit scores will not be effected by removing the disputes.
From there you should do all you can to see if you can bump your mid score up to a 640. If you can do that you would be able to obtain FHA financing at the same interest rate and fees as somebody with a 750 credit score. Even with a 636 I have lender's that can get you rates within a quarter point of the best FHA purchase rates.
Please feel free to call me if you would like to discuss further.
Hope this helps and best of luck to you.
REALTORÂ® & Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
o 512.669.5599 m 512.633.4157
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Not all lender do a 'manual underwrite'. Maybe your lender doesn't do manuals? Maybe your loan officer does know guidelines?
See if you can find one you like that can do this.
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If your wife's income allows you to qualify for a Conventional or the more flexible FHA loan with just her on the loan, then that would be a most pratical way.
Also, go ahead and instruct your creditors accounts, that you are NOT disputing the account information and to remove the dispute comment, and let the credit score be what it will.
We are direct lenders, not mortgage brokers; our mortgage bank is best for mortgage financing - FHA, 100% financing USDA (zero down payment), Conventional, Jumbo, Foreign National, ITIN, Investment Financing, etc.
Give me a call or email, for any questions you may have.
Amcap Mortgage Bank
The most practical solution is that, if possible to qualify on the loan program's debt to income ratio guideline, with just your wife's income, then she should be just by herself on the loan application.
You can work on removing the dispute comment from your credit report accounts after closing. Please let me know if you need additional information and or have questions.
Amcap Mortgage Bank
RE/MAX Professional Group
Yes, the first step is to check out your credit report and go from there.
If you need more help or want to shop rates and programs available, I'll be happy to work with you.
Anna Maria Durr, NMLS 266699, TREC 596662
2626 Richmond Ave., Houston, Texas 77098