Can you get a mortgage with one spouse having a 715 score and the other one having a score of 515? We are looking for FHA financing.

Asked by Bluegirl, California Mon Jul 2, 2012

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Natalie Agui…, Agent, Arcadia, CA
Mon Jul 30, 2012
II woulld contact your favorite lender, they would be in a bettter position to answer your question. However, based on my experience with FHA buyers, I understand that the minimum score is 620. If I was you I would file for a loan using the highest score, which is 715. There are people that repair your credit scores, perhaps it would be worth looking into it so tht both of you can apply for the loan and use both incomes to qualify a great loan.

Natalie Aguilar Team
First Time Buyer Special
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The Emamian…, Agent, Pasadena, CA
Tue Jul 3, 2012
While FHA financing is more flexible in regard to credit scores than a traditional loan would be, my understanding is that the minimum FICO score to qualify for FHA financing is 620. That being said, my recommendation is to talk to a reputable lender to discuss your options. Perhaps they can take an average of your scores or offer you advice on how to raise the lower credit score before trying again. Certainly, the most obvious choice would be to get the mortgage using only the spouse with the 715 FICO score, that will change your price range however if you are dependent on two incomes. Many people struggle with credit issues, it is nothing to be embarrassed about, there are solutions and you can still buy a home.

I would be happy to speak with you and recommend some good lenders to work with to obtain your goal of home ownership. I don't make false promises, I just help people come up with solutions that
allow them to achieve their dreams.

I can be reached at (626) 487-3678 or by e-mail at

My best,
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Gris Torres, , Pasadena, CA
Mon Jul 2, 2012
My suggestion is for you to get a loan on your name only - do help your spouse to increase his credit score when you have the time. If you can wait, then do it. This is your option.

If you decide to get a loan on your name, shop around; try to get the best deal and the best answers. Note, once you have a pre-qualification letter from a lender, the search for your home will be fast. Therefore, take the same advice and search for a qualified REALTOR that will listen to you and explain the entire process - from the search of your dream home to the day when the keys to your new home are delivered to you.

Good luck on your search.

Gris from Coldwell Banker
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Ron Takeuchi, Agent, Glendora, CA
Mon Jul 2, 2012
This question will be answered by a qualified lender but I can start you out with my (Pasadena realtor) understanding that your chances of qualifying jointly for FHA financing will be affected by the lower FICO score of 515, If you can qualify the spouse with the higher score on their income alone, than FHA financing is possible. If you need both incomes on the loan, then I think you're going to have difficulties.

Sorry, just giving straight answers. Please confirm with your lender and feel free to contact me should you need a realtor.
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SERGEY FEDNOV…, Agent, Beverly Hills, CA
Mon Jul 2, 2012
Yes it is possible to purchase a real estate with these credit scores.

Please contact me for more info and to obtain pre-approval.

Thank you for your time!

Should you have any questions - please do not hesitate to call me Toll Free 1-855-TRUST-55 ext.777 ( 1-855-878-7855 ext.777).

Sergey Fednov
Trust Sale Realty
Toll Free: 1-855-TRUST-55ext. 777
Toll free: 1-855-878-7855 ext. 777
Phone: 424-777-9377
Fax: 310-356-4925
P.S. We Hire Licensed Real Estate Agents!
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