Delora Kuehn…, Home Buyer in Merritt Island, FL

My husband has a score of 643, mine is a 550 and we want to apply for FHA loan. Should he apply without me?

Asked by Delora Kuehn-bury, Merritt Island, FL Sat Feb 23, 2013

We are currently living in a house that we just found out the landlord stopped paying on years ago. We would like to not rent again and want to buy. My husband has a score of 643 and mine is a 550. We both have been at our jobs for almost 7 years and make about 55000 a year combined. Right now beside utilities we are only paying 300 a month for car payment and he pays 300 a month for child support. Our current rent payments are going into an escrow account. We have around 10000 for down payment. Should he apply on his own for a FHA due to my credit score?

Help the community by answering this question:


It takes a 620 score to qualify thru most lenders with only 3.5% down.

If your score is 550, I'm pretty sure there are issues that are more serious than a few lates or high credit balances.

What you need is a loan program that will allow up to a 54% DTI (Debt To Income) ratios and to be able to structure the purchase in a way to maximize your purchase price only using your husband’s income.

Below are some of the best programs from A to Z available, including the all new Stated Income Alt Loans for Self Employed borrowers

After reviewing programs below, please email me at

1) 100% LTV- VA - pay off debt at closing on a purchases too!
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3) 99% LTV- FHA
4) 97% LTV- NEW- No PMI -No FHA 1.75% MIP Fee!
5) 95% LTV- NEW-No PMI!
6) 95% LTV- NEW-CONDO Loan
7) 90% LTV- NEW-No PMI -2nd Home
8) 90% LTV- New-Jumbo w/cc
9) 85% LTV- NEW- No PMI to Super Jumbo
10) 80% LTV- Rental Property

------------STATED INCOME ALT Loan programs-------------
11) 80% LTV- to Super Jumbo
12) 80% LTV- FIX n’ FLIP Invest. Prop. – No min. credit!
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Steve McRory
Pro Option Mortgage/ Florida
Ph: 888 662 4404

Prior Service U.S. Marine Corps
0 votes Thank Flag Link Sun Feb 24, 2013
You did not say how much your husband makes as your income would not be used to qualify. You may wish to talk with a lender and work on your credit to get it up to 640 (new minimum credit score for FHA as of this coming April) so that you can use both yours and your husbands income to qualify. For a quick idea of what you may qualify for you may visit our website; then click on the Mortgage Center. Then scroll down and click on the Home Affordability Calculator. Use 4% (as it does not go lower than that on the calculator. Rates are approx. 3.5%). This will give you a reasonable approximation of what you should be looking at.
0 votes Thank Flag Link Sun Feb 24, 2013
It ain't happening on a fha program with you on the loan..... PERIOD!

However i have an option

Contact me
0 votes Thank Flag Link Sat Feb 23, 2013
Asking us might get a guess or two, so why not call or go see a lender and ask them? You can ask what they suggest and get a real answer. I would suggest going to see a couple to see what they suggest, sign nothing, pay nothing, just ask questions.
0 votes Thank Flag Link Sat Feb 23, 2013
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