Our loan officers (within the real estate corporation include a mortgage company nationwide) can help you. I am a Realtor, just sent me an email at email@example.com and I'll send you Chris' info to contact him if you wish to check him out.
Without knowing the credit scores and credit history for both you and your husband, we'd all just be guessing what might happen if you applied for a loan together. Your best and most accurate answer will come directly from the mortgage broker.
I know, from personal experience, that it can be pretty frightening talking with a mortgage broker and there is always concern about what to tell the broker about your financial situation. But here's one thing to remember, your mortgage broker is YOUR agent and will try to match you and your husband with a lender whose lending guidelines most meet your specific needs. Also, withholding information will only create problems later--it's better to be prepared and forewarned then disappointed later because you could not meet lending requirements.
The mortgage broker will also tell you if it would be better for you to not be on the loan for a home or if its better to wait. In some cases, there may be things you can do now that will have a positive impact toward your credit in the very near future, and will make home buying that much easier. Either way, you won't know what your situation is or how to resolve it until and unless you speak with your mortgage broker about your financial situation.
So talk to the broker, be honest, and work with the mortgage company to find a great loan for your next home purchase.
you should talk with a mortgage broker, my website has a link to one that has access to many lenders and loan products...here is an article on FHA loans that may interest you
BUYER CASH REBATE 50%-60% / SELLER DISCOUNT 50%
Quality Full Service! Work directly with the Owner/Broker.
Flavio Tejada, Owner/Broker, Realtor, MBA-Finance
It can. It depends what is on your credit report.
You may be required to fix items if you owe money that is past due.
Your financial info is looked at and considered.
Your debt ratio may harm or help.
Debt ratio = income vs amount owed on a monthly basis
The best thing you and your husband can do is get in touch with a good lender http://www.southern-california-home-loans.com and call and ask questions. There is no one answer. everyones circumstances are different.
Harold Sharpe - Broker
So Cal Homes
California Department of Real Estate Broker License # 01312992
Call or email me if you have more questions, but the short answer is, even if your husband has bad credit, there may still be a way that you can buy a home.
I had a client recently in a similar boat and they simply left the spouse with the poor credit off of the application. However, I have also seen clients in the past year where one spouse had great credit and the other had poor credit and they were both on the loan and everything worked out fine for them.
Once you are ready to start looking for a home. I specialize in the Morgan Hill/San Martin area and would be happy to help you.