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I live in California. Can I apply for a FHA loan on my own even if I am married and my husband owns a home? His credit is not so good. I make about 75k been working for 10 yrs and credit score is 690.

eric1 · Posted: Sat Jun 06, 2009 2:12 pm Post subject:

Junay, yes you can as long as you can qualify on your own.

danielcorral13 · Joined: 20 Apr 2009 Posts: 53 0.69 Dollars($)

Hello Everybody,

690 Is the Best Credit Score.

junay00, You can apply for FHA from California like normally . There are no any relation between your husbands credit score & yours credit score. 690 is good credit score so you do not worry about your Credit score .
If you co-signer for your husbands loan & he still paying to lender it will not effects on your loan. If he stopped to pay them it will definitely effect on your loan qualification.

To Get More info visit
"http://www.fha-home-loans.com/"

Thank you so much,

Daniel Corral.

[Email address deactivated as per forum rules]

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

junay00

Welcoem to forum.

You will need a minimum of 620 credit score to qulaify for FHA loan. since you have 690, that is good to qulaify. But it is not the best as you also know. Its alwys good tokeep workign on improving yoru score.

You cna absolutely go alone and apply for loan, but that will limit the amount you qualify, since it will be based on your incoem only.

Some basic things about FHA. You will need minimum of 3.5% down payment and you will probably pay MIP (PMI) when you make low down payment. There will be an upfront MIP of 1.75% of your loan.

Good luck and feel free to ask.

Realgeni
-Good credit is easy to achieve, as long as you use it responsibly.

brian3 · Joined: 09 Jun 2009 Posts: 80 21.31 Dollars($)

if you are a cosignor on your husbands loan as the other poster mentioned above that payment will be counted against your qualifying ratios lowering the amount of your approval. but as far as qualifying there are no issues

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