My husband's credit score is 715 & mine is 578.He is a 1st time buyer & i am not. Should we apply together or not?

Asked by Sandy, 48088 Thu Aug 2, 2012

We have 20% to put down & together we gross 50,000, seperately he makes 30. Do you think we can get appreoved for 110,000 with only him?
I filed bankruptcy in 2004(due to fall off 2014) but we need to buy now.

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5
eschenk, , Sterling Heights, MI
Sun Oct 21, 2012
A mortgage lender will best answer this question. I work closely with one and would be happy to put you in touch. I would also be happy to help with any other aspects of your purchase.

Ed Schenk
Keller Williams Central Marketplace
586-979-3308 (office)
eschenk@kw.com (e-mail)
Web Reference:  http://eschenk.kwrealty.com/
0 votes
nauticalmom, Home Buyer, Roseville, MI
Wed Sep 26, 2012
You can buy a house by land contract. Many people so when they have problems with credit. The bankrupcy still showed up on our cridit for ten years. I would do that or sit down and talk to a loan office and see what you can do. may be you can get someone to co sign for you or there are cities that need populatin like Mt Clemens and you can get in there with help. bthats what we've been told. the best of luck to you. what we ended up doing was wait it out. we did not want too but we found a cheap small place and we were able to pay off. fix our credit find errors on it and took care of those and saved money. e finally we be approved on Tuesday. it was difficult but csn happen. I had to have patience and still stick with a lease for five more months but by then I will have enough for moving costs. you have to do what you have to do even though you don't want too but the out come will be good. good luck to to
0 votes
Sigrid Garri…, Agent, Rochester, MI
Thu Aug 16, 2012
Sandy,

You will not qualify with a credit score of 578.
The first time buyer or not doesn't make any difference as far a s getting a mortgage or even making an offer on a property. Occationally there are incentives for 1st time home buyers but I do not know of any at this time.
The amount he can qualify for will vary depending on if you gety a condo or home, what the taxes are, & what his debts are.
You need to contact a mortgage professional. I have a few. I can give you their names if you wish.

Best to you!!

Sigrid Garrick
0 votes
Bob Schweiss, Agent, Livonia, MI
Thu Aug 16, 2012
Hi Sandy ,

contacting a mortage lender they will be better to give the anwers you need and what options are available.

Dmitrii Maksimchuk
(734)546-2767
University Lending Group

Dmitti is an outstanding Mortage Lender as well as a Financial advisor.

Thanks
Bob Schweiss
Remeica Hometown One
(33)779-6188
0 votes
Michael Warr…, , Novi, MI
Sun Aug 5, 2012
Hi Sandy

You should contact a mortgage lender to discuss your entire personal situation and they will be able to get your pre-approved for a certain loan amount. Your bankruptcy should not be an issue, but your credit score would need to improve. If you do not have a mortgage lender, contact me and I can suggest a few.

Sincerely,

Mike Warren
Keller Williams Realty
email: mikewarren@kw.com
0 votes
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