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MouseGoddess · Joined: 04 Jul 2009 Posts: 2 1.72 Dollars($)

My boyfriend and I want to buy a mobile home. We are both on Social Security, which is, of course, verifiable. However, he also works part time in his own business. Added to this, I have good credit, his is not so good. Can we apply for a mortgage in only my name (for the credit) and list him as my renter? That would be my income (from him and SSA), but would they check anything on him? i.e.income?

millerja9 · Joined: 19 Jun 2009 Posts: 100 0.00 Dollars($)

Can you specify your credit score?
Second thing i want to confirm- about your job?where are you working?

Please specify.

But as per your provided details i can say that you may get mortgage on your credit score.

robertsmith2005 · Joined: 22 May 2009 Posts: 338 -0.48 Dollars($)

You are eligible if the conditions given at http://www.mortgagefit.com/mobile-homeloan.html#qualify are fulfilled.

[Post edited as per forum rules; Thanks]

MouseGoddess · Joined: 04 Jul 2009 Posts: 2 1.72 Dollars($)

Milleria, I don't know the exact score anymore, the last time I checked it was around 700 and nothing has happened to make it go down. I don't work, I'm retired. I get Social Security, as does my BF. He also works part time doing mobile home repair and remodeling in his own business, which can't be verified and that's one thing that concerns me.

gunzijjistaff · Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)

Hi MouseGoddess,

Welcome to our forum.

I would like to advice you that, If you mach with minimum requirement for FHA (Federal Housing Administration ) loan then you can apply for FHA.
You must have 620 fico score as well as 3.5% down payment of loan Amount & your latest statement from bank. If he is your renter this is considered as your in-come source.

Thanks & Regards.

gunz.ijjistaff
_____________________________________________________________
You can ask your queries to us anytime & we will definitely help you, Its our pleasure.

savior70 · Posted: Mon Jul 06, 2009 3:26 am Post subject:

Hi MouseGoddess,

I think it is technically possible for you to show your boyfriend as your tenant. In that case, you need to put only your name on the title to the mobile home. You have a good credit score. Now if your combined income (your social security income and the income from the rent) helps you qualify for the loan, you can purchase the home.

As far as your credit score is concerned, you need to check them. Though nothing has happened to drop your scores down, you need to check them at regular intervals to make sure the payments made by you are reported to the bureaus properly.

You may also check out the following mortgage calculators to find out how much mortgage you can afford:
http://www.mortgagefit.com/calculators/howmuch-afford.html .

Property State:
Property Type:
Credit Rating:

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Good and Bad credit, plus part time self-employment