Can I buy a home with a credit score of 610.. I am also getting a divorce.will that affect me.?

Asked by Emma Tempero, Lancaster, CA Wed Jun 6, 2012

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Robert Spino…, Mortgage Broker Or Lender, Mill Valley, CA
Wed Jun 6, 2012

If the divorce is not final, you should be prepared to include all of your spouse's obligations in your debt calculation. CA is a community property state, and for this loan, you'll likely need to go FHA. Because of this, any jointly held credit, or obligations in her name will be factored against your income.

Until divorces are final, it is best to think of the application as being made jointly. And realize that even if your wife is not on the loan, she will need to sign several documents at close of escrow if you are still married at the time of signing. I tell you this only because some divorcing couples are not on the best of terms...

Let me know if I can assist.

Rob Spinosa
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Lluvia Marti…, Agent, Orange, CA
Wed Jun 6, 2012
You can buy a home with a Fico as low as 600 with Minimum Down Payment, FHA Fixed Rate , Single Family to 2 Units.
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Divorce process helps to avoid any consideration of your wife's debts. Finalize it as soon as you can and avoid going anything below 600 Fico Score.
Flag Wed Jun 6, 2012
Gregorio Den…, , San Diego, CA
Wed Jun 6, 2012
To correct the previous post:

You can buy with FHA with a 580 credit score, not conventionally. If you go with FHA, your spouses DEBTS will be considered' NOT their credit.
Web Reference:  http://WeFixRates.Com
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