Home Buying in 33328>Question Details

mrs_turner20…, Home Buyer in Fort Lauderdale, FL

Can I buy a house by myself and not include my husband's name on the loan?

Asked by mrs_turner2007, Fort Lauderdale, FL Wed Mar 13, 2013

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.

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Answers

5
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
1 vote Thank Flag Link Wed Mar 13, 2013
we are good with our other loans, he is paying off his federal very good. We got car loans that we on time paying and not missed a payment. hes credit cards are almost completely paid. Just this Sallie Mae loan that he is not paying because he fighting for it. It is a big scam. His score is not too bad either. he was able to get a car loan by itself.
Flag Wed Mar 13, 2013
As stated earlier, you should contact a Mortgage Company for assistance.
Work with the loan originator and provide acurate information so you may be helped in a professional way.
0 votes Thank Flag Link Sun Jun 30, 2013
Your husband should be able to refinance his student loans (if he has not done it before) then start paying them on time, this should help fix his credit score.
0 votes Thank Flag Link Wed Mar 13, 2013
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.
0 votes Thank Flag Link Wed Mar 13, 2013
what should is his credit score be in order to afford?
Flag Wed Mar 13, 2013
Your income = $14 x 40= 560 x 52 = $29,120 per year.
0 votes Thank Flag Link Wed Mar 13, 2013
Do you think there is a chance I can buy a home by my income and/or have my husband's income as supplemental income?
Flag Wed Mar 13, 2013
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