Hi, we are married couple who moved here in MD for about a year now. We wanted to buy a home but so far it seems impossible. We both work. Our combined income this year is about 95k and will probably 100k next year due to our current raise and new wage. His credit score is about 600 and mine is 680. I'm an immigrant by the way so I don't have a lot of credit history. I've been here in the US for 6 years. I have 3 credit cards that I am paying off and I am almost done. My husband has Sallie Mae student loan that he is fighting for in a lawsuit. We wanted to buy a home but we were let down due to this student loan. He is getting frustrated and hopeless with his situation. He said he will not qualify even if he is making more money because of his student loan. Now we are thinking of getting a home by my name. Problem is I only make 14$ an hour. Do you think lender is going to approve me for a house loan? I hope anyone can help with our situation.
You are only going to qualify based on your income alone. Just doing the calculation in my head you make about $30 -33,000 a year. Roughly that is good for about a $100-110,000 loan. Best bet is too start paying those loans on time for a year to get your husbands credit scores back up
Unfortunately, your income is not enough, and your husband credit is not acceptable by most lender's guide lines. I have a very good mortgage broker that might be able to help you. No promises! You can reach me at 954-805-8392.