Asked by LILYCLAIRE6, Sacramento, CA • Tue Oct 1, 2013
My husband and I are going to be moving out of our current rental in December (we are currently renting a condo and want a house). We are sick of renting and really want to buy a home of our own but I don't think that we would be approved.
My husband's credit is pretty bad so I would try and get approved for a mortgage on my own. My gross annual income is approx. $75K and my credit score is between 680-715 (depending on which credit agency). The bad part is that I have around $15K in credit card debt BUT all of my accounts are in good standings and I have never ever been late on my payments. Also, we don't really have any money for a down payment.
I would really appreciate any/all advice on this matter. Is it worth it to try and get approved for a mortgage or should we wait until my debt is paid down and we have money for a down payment? Thank you!
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