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
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.
(214) 763-4629 cell/text/nights/weekends(Really!!)
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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
BUYING A HOME (The process start with the Banker not the Realtor)
Start the process right 1st by talking to a Licensed Mortgage Professional to determine who much home you can afford and whether you are credit wordy and is there an ability to repay the loan.
The Mortgage Professional will give you a conditional approval letter to take to the realtor.
Once the realtor has found your home you should get it inspected to determine if itâ€™s structurally safe (have the realtor recommend one locally) and be sure to ask your realtor to negotiate a home warranty paid by the seller.
Now is the time to determine and negotiate you rate and terms with the Loan Officer who is responsible to order an appraisal that you will be responsible to pay for prior to the arrival of the appraiser.
Youâ€™re Mortgage Professional / Loan Officer will be responsible to guide you the rest of the process and should not take more than 30 days.
DURING THIS PERIOD DO NOT TAKE ON ANY ADDITIONAL DEBT UNTIL THE LOAN IS CLOSED AS YOU WILL BE DENIED THE LOAN.
Wherever you're located in this nation, you can trust you're working with a reputable mortgage banker - not a fly-by-night operation. Here's why.
Bank of England is partners with every major investor on Wall Street; allowing us to provide the best rates and terms on all mortgages.
We are approved by the Better Business Bureau and Bank of England /ENG Lending is the only mortgage bank among its competitors that is owned by a FDIC insured bank and did not need government bailout to remain solvent.
Bank of England loan officers don't simply facilitate the loan process; they act as "financial advisors," helping clients assess their finances on a larger scale. Whether you're self-employed and need a low-doc mortgage loan, or you're searching for the best rates on a jumbo home loan, your loan officer is here to find your perfect solution.
Get the facts about home mortgages from the experts at ENG Lending. Learn about different types of home mortgage loans and what to expect during the mortgage application process. Plus, find information about the current mortgage market and which mortgage myths you should never believe.
Let ENG's experienced Mortgage Bankers help you find a solution for your financial needs. My name is Lowell contact me at (972) 646-2411 so we can discuss your situation in private. Benefit from my 21 years of experience answering the most common mortgage questions.
16800 N. Dallas Pkwy, Suite 290 | Dallas, TX 75248
Office: 972-646-2411 | Cell: 214-418-7022 | Fax: 214-614-4637
Bank of England /dba ENG Lending: NMLS# 418481
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