Asked by Jesseebrittany, Indianapolis, IN • Thu Mar 3, 2011
My boyfriend and I are wanting to buy a house under $70,000 within the next 6 months (hopefully). He currently has a house he rents out. However, since it is not close to our jobs and frankly too expensive for us right now, we are looking for a house in the Indianapolis area to purchase. He has a credit score between 700 and 720. My credit is currently being established. (I have 2 credit cards, all paid off every month, have rented for 1.5 years, etc) He has about $14,000 in student loans, which are about $100 a month, all secured. I have no debt. We have never missed a payment on anything. I have been in the same industry for 2 years. However, my boyfriend has had many odd jobs the past few years, partially because I moved him to a different part of town. Specifically we are looking at a $64,000 home and can put about 3.5% down. We talked to Wells Fargo the other day and were basically told since he had worked in a different industry for a few months, we did not qualify. Advice?
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