Financing in 01118>Question Details

Wordgirl, Renter in 01118

My fiancé has good credit, mine is poor. We make /- 32k a year each. Is there a mortgage for us?

Asked by Wordgirl, 01118 Wed May 16, 2012

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I have a guy that works hard to get people qualified. A nice little house in forest park is a good start.

Call me or email me I would love to help you. I am from Springfield.
0 votes Thank Flag Link Thu May 17, 2012
Hi Wordgirl,

You may have a better shot of just qualifying your fiance. Lenders look at the lowest credit score of co-borrowers. Shop around at local banks and mortgage companies.

Good luck,

Marilyn Pinto
Coldwell Banker
0 votes Thank Flag Link Wed May 16, 2012
Dear Wordgirl,

I'd be happy to refer you to a remarkable mortgage originator who could give you a definitive answer to your question...not only would she answer your question, but if she was unable to locate a mortgage product that would work for you today, she could also counsel you on the best way for you to improve your scores so that you could possibly qualify in the very near future!

With that being said, I also must say that what you and I define as "poor" credit, might not be as poor as we think!

Call me today and I'll happily put you in touch with my favorite mortgage lender so that you can quickly and easily get the answers that you seek!

Kindest regards,

Julianne Krutka
Park Square Realty
44 Elm Street, Westfield MA
Western MA and Northern CT REALTOR®
Cell: 413-297-6718
Fax: 413-485-7379
Website: - Serving the real estate needs of Buyers and Sellers in Western Massachusetts and Northern Connecticut.
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A wise person once said..the only stupid question is the one you don't ask! I am never to busy to answer your questions about Real Estate...ask away!
0 votes Thank Flag Link Wed May 16, 2012
In regards to your specific question, the answer is "it depends". We would compare your income to your debts and see how much home you coukld afford.

Biggest misconception out there- that you NEED a 640 score for FHA. I have investors who consider more than just the score. I have done loans with credit scores of 580 with the right borrower. We just look at the big picture- work history, assets, recent credit history, etc...

Feel free to contact me to discuss your options. No cost/ no obligation. My contact info is here-

Scott McCauley
Licensed Mortgage Planner
Regency Mortgage Corp.
0 votes Thank Flag Link Wed May 16, 2012
Hi Wordgirl

You need to get to a FICO of 640 at least, then you can get a FHA loan.

There are loans available for lower but Rates and Costs can be very high.

There are also hard money lenders.

Key thing will be to improve your Credit and go from there.

0 votes Thank Flag Link Wed May 16, 2012
The question is how poor is the credit? Most loan officers and mortgage brokers have access to credit analyzing software that will help show how to improve your score. It starts with a conversation with a professional.
0 votes Thank Flag Link Wed May 16, 2012
0 votes Thank Flag Link Wed May 16, 2012
That should say appx 32,000 each a year.
0 votes Thank Flag Link Wed May 16, 2012
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