---

Trying to get a $109k mortgage with girlfriend. PROBLEMS....

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
schweitzershane Joined: 19 Aug 2011 Posts: 2 1.53 Dollars($)	Posted: Fri Aug 19, 2011 1:42 pm    Post subject: Trying to get a $109k mortgage with girlfriend. PROBLEMS.... Like 0 Dislike 0 Here is the deal.... A house just got forclosed that we both like very much. Its valued at $159k and the bank owns the house and dropped the price to $109k from $129k. I make $24k a year, and have a 618 credit score. My girlfriend makes $22k a year and has a forclosure on her credit score from 2 years ago and a bad past. so cant use her score. If we combine our income we can do it even with my credit score. Every lender I been talking to its either I have enough credit to get a loan but dont make enough and CANT use my girlfriend.... or I dont have enough credit and CAN use my girlfriend (household income). Seems its 1 thing or the other but not both. Im trying to get a loan for this house with my credit score, and BOTH of our incomes. Possable? I live in PA.
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Mon Aug 22, 2011 12:16 am    Post subject: Like 0 Dislike 0 Hi schweitzershane, As far as I know, both of you can be the co-borrowers of the loan and your credit score will be taken into consideration by the lender. You should contact the local lenders and start applying for loans. They will check your situation and let you know whether or not you will get a loan. This community has a large number of lenders. You can seek a no obligation free mortgage quote from them and check out whether or not you will qualify for a mortgage. _________________ Procrastination is the enemy of your financial success
schweitzershane Joined: 19 Aug 2011 Posts: 2 1.53 Dollars($)	Posted: Mon Aug 22, 2011 5:47 am    Post subject: Like 0 Dislike 0 She has a forclosure on her credit, and when i bring it up to lenders im talking to they all say "better just to leave her off the loan, because she wont help anything, maybe make them worse"
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Aug 22, 2011 11:16 pm    Post subject: Like 0 Dislike 0 Hi schweitzershane! Welcome to forums! When the lenders are not ready to consider her as a co-borrower, then it's better if you don't include her in the mortgage docs. Sussane

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0