Have you thought about repairing your credit score before purchasing a house? That would probably get you the best deal in the long run. It might be a bit of a hassle initially, but you will inevitably save lots of money by getting a better loan and rate, plus you will qualify for a nicer house with 2 incomes.
Lender could approve 730 score however YOU might require 2 incomes qualify purchase a home of your preference.
IF you are turned down for loan work on increasing other party credit score where you can qualify. If denied credit best not keep applying till other score increases. Each time you apply for loan it lowers your credit score.
I am a mortgage broker. If I can be of service, please let me know!
877-238-6324 Ext 704
I also stress that we use the middle score. There are 3 bureaus, each with a score that is probably a bit different. Often when people tell me their scores they're referring to the highest one. Good luck with your loan.
Chino Hills, CA
We would agree with the concensus...........
The best thing to do is meet with a loan specialist to find out what your options are. They will be able to provide you with accurate information and possibly pre-approve you for financing.
There might also be some thing you could do to inprove your credit, fifty points will take a little time though.
You could also try to qualify with just one person but then you would only be able to use one persons income.
Interview a few Mortgage brokers and see who will help you. NOT just take your application and do it if its easy I get a lot of my clients by Brokers that did not want to do the work..
The lender usually takes the average credit of both of you. Unless you take the loan under your name only with the credit scor of 730. Talk to your lender about it, they'll be best to advice you.
Keller Williams Realty