02-09-2011 07:55 PM
His credit is not going to be an issue. You didn't say what your scores were, however. Some lenders average them, some take the lowest of the two for qualifying purposes. Just depends on the type of loan and the lender.
Right now, if you can get into an FHA loan (if the limits are high enough to cover your proposed purchase) they're probably the easiest to qualify for. If you can put 10% down on an FHA loan almost anyone can get approved, even if your credit scores are under 600! (Assumes you have the income to make the payments, too, of course.)
Right now in this economy, everyone has credit issues, it seems. They say that 700 is the new 800 and 600 is about what 700 used to be two years ago. So don't sweat the scores. Make sure your bills are current and don't take on any new debt until AFTER you have the house. If you have debt that will pay off in 3 to 6 months, pay it off now if you can do so and still have enough for the Down.
02-09-2011 10:06 PM
Hi Thanks for the reply,my first house is on my hubends name only now we are planning to buy a house on his name that is the point any advise pl.