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Carysgirl1 · Joined: 24 Feb 2011 Posts: 1 1.48 Dollars($)

My husband worked as a truck driver for 8 years when he injured his arm back in Feb. 2010 (not on the job). He was paid via his long term disability, but as soon as he was released back to work from his doctor almost a year later (Feb. 2011), he started working for a new company making double what he was at his old job. We really want to get into a house this summer and we would be able to have about 8,000.00 to put down on a house. I paid off everything that was on our credit reports that was delinquent from many years ago, after which I found out wasn't a very good idea. We also have good revolving credit as well with a couple credit cards and such, but our credit scores are between poor and fair. I was wondering what our chances were to get into a house this summer, even if we had to wait until August of this year for it to be 6 months of him working his new job and for our credit report to update. Also his new job has a nice income as well we would be able to afford about a 1500.00/month mortgage.

jveenstra · Posted: Thu Feb 24, 2011 3:49 pm Post subject: Buy

The credit score is probably more important than length on the new job.

Do you know if the credit score is presently over or under 620? 640?

As timne passes with no late payments, score and time on job will both improve at same time. We can not tell you how long it will take for credit score to increase, if that is necessary.

Guest

Hi, I recommend pulling your credit reports up online and challenging any negative entries. Since you said you paid off the old debt, challenge it as not your debt. Anything that is older than 7 years should have come off anyway, so challenge that also. You should be able to do this fairly easily online for all three reports. If you haven't pulled your free annual report, you should be able to do it for free now.

desaisakshi007 · Joined: 25 Feb 2011 Posts: 2 1.37 Dollars($)

Credit score is very important aspect but if you check with local lenders that might help.
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tfaulhaber1 · Posted: Fri Feb 25, 2011 2:50 pm Post subject:

The job isn't an issue. You need to speak with a loan officer and see if and how much you can get qualified for. If you can't right now, he/she should be able to give you an idea of what would be required to get qualified.

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My husband just started his new job, would we qualify for a home mortgatge loan by summer?

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