Financing in 78237>Question Details

Tariq Umer, Home Buyer in Bardstown, KY

My wife has a high enough credit score for the FHA loan but I have a thin file of credit due to being an immigrant. Can we still get a home loan?

Asked by Tariq Umer, Bardstown, KY Wed Apr 17, 2013

I am an immigrant so I am new here and I have worked since January and I realize the FHA requirements says 2 years of work history. Would we still be able to get a loan with a co-signer?

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Hi. I am a lender and I've closed clients with this situation before.

If your wife can qualify with only her income and both of your debt, yes, you can get an FHA loan. If she does not qualify with only her income and both of your debt, we can try a co-signor as long as the co-signor will be living in the home as their primary residence. If that does not work, we can try ann FHA loan AND the MCC Program. The MCC Program is used in conjuction with FHA loan to aid in qualifying. This program gives the homeowner an annual tax credit of UP TO $2,000 if they meet the criteria. Since you will be receiving this tax credit, your wife could adjust/lower her federal withholding on her W4 with her employer to receive more money on her pay checks. Lenders take the amount of the tax credit, divide it by 12, and reduce this amount from the monthly house payment FOR QUALIYING PURPOSES ONLY. I've helped many families with this program that would otherwise not have qualified. Call me to get started.

Vino Alonzo, Loan Officer
NMLS# 184279
Castle & Cooke Mortgage
210-685-7642
valonzo@castlecooke.com
1 vote Thank Flag Link Wed Apr 17, 2013
yes i am Mr harrison scott i want to direct you to mr shirley hadrick (shirleyhadrickloanfirm@yahoo.com) she can solve all your problems.
0 votes Thank Flag Link Mon May 13, 2013
Yes, I think so just as long as your wife has enough salary and as you said, your wife has high enough credit score so I think it would be fine. I also suggest that instead of getting a cosigner for you, why don't you hire a company instead? The companies that help people rent even with bad credit? Try EZ Lease Rentals, just consider it because it might actually be a better choice for the both of you.
0 votes Thank Flag Link Mon May 13, 2013
Yes, you can get a mortage. First things first, talk to a lender and see exactly what you and your wife can qualify for in a FHA loan. Once you know what you can do, then call me......I will find you a home within your qualifications!

Make this a great day,
Priscilla
0 votes Thank Flag Link Wed Apr 17, 2013
If your wife can qualify on her own then you should be fine.

Chris
0 votes Thank Flag Link Wed Apr 17, 2013
I've done a few deals like this give me a call and I can put you in touch with a great lender to help you.

Best Regards

Johnny Williams
210-858-7899
Johnny@sahomestx.com
0 votes Thank Flag Link Wed Apr 17, 2013
Yes, your wife can buy a home using her credit and income alone. You would be added to the deed, not the mortgage. If you need still need a co-signer to guarantee the loan, you may do that as well. FHA has strong set of regulations and I suggest you speak with a good loan officer before you go forward with money and emotions.
We work with very savvy lenders and I will be happy to pass on a list of companies for you to contact.

Sue
0 votes Thank Flag Link Wed Apr 17, 2013
If your wife can qualify with a good credit score and has good income by herself she should be able to qualify by herself, but if she needs help with the income part you should be able to use a co-signer as long as they qualify with a good credit score and a good income. To know for sure I can refer you to a good mortgage lender they can help you with that part of it. Once we get that done I can look for houses in the area that you are looking in purchasing. Give me a call or email me back and I can give you that information to get you started.
0 votes Thank Flag Link Wed Apr 17, 2013
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