Is it possible to get a loan if my fiance and I have a combined income of 54000 but 11,000 in credit card debt?

Asked by Leece0901, Dover, DE Sun Sep 1, 2013

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S. Walton Si…, Agent, Christiana, DE
Wed Dec 10, 2014
It's very possible . Any qualified mortgage broker can provide that information for you. New Penn Financial is a great local lender...

S. Walt Simpson, Realtor
Keller Williams
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Diane Riffee, , Wilmington, DE
Tue Oct 29, 2013
Possibly. Depends on what the minimum monthly payment is on that debt. And if all of your obligations are paid on time. Lenders evaluate something called your debt-to-income ratio. I would refer you to a good local lender to meet with & discuss your situation and get your entire credit history. That's the best way to go. Call: Jay Stout, Caliber Home Loans at 302-401-4005 The call is free and no obligation. But it's best to talk to the experts. If not now, he can put a plan in place to get you ready for a future purchase.
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Or you can call John Thomas of Primary Residential Mortgage. See his answer below. He is great with first time home buyers.
Flag Tue Oct 29, 2013
Harry Wooding, Agent, Wilmington, DE
Mon Sep 2, 2013
Yes it is possible. But would be best to get in touch with a lender and get pre-qualified so that you know exactly what works in your budget. I would be happy to help you with this please give me a call at 302-542-1829
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, ,
Mon Sep 2, 2013
With that income and the minimum payments on the credit card you should be able to get pre-approved as long as your credit score meets the minimum requirement for the loan program you are using. We also look at the other debt on your report as well such as car loans, student loans, etc.

The first step is to apply for a pre-approval which you can do by giving us a call at 302-703-0727 or online at

There are 4 loan programs to pick from which are VA Loan, USDA Loan, FHA Loan, and Conventional Loan. If you have challenged credit then the FHA loan is going to be the best one for you as it will allow down to a 580 credit score with only 3.5% down payment and below a 580 with 10% down. Not all lenders follow this guideline as most want a 640 minimum score no matter what. Primary Residential Mortgage is one of the few banks that follow FHA guidelines and will lend below 640 score down to a 500.

John R. Thomas
Certified Mortgage Planner - NMLS 38783
Primary Residential Mortgage, Inc.
302-703-0727 Office
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James Olson, Agent, Dover, DE
Sun Sep 1, 2013
All depends what the minimon payments are on each card. I have a great mortgage professional I can hook you up with. In 15 minutes you'll know if you are qualified. Email me at
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