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Company Loan Type APR Est. Pmt.

Take out FHA loan

Posted on: 18th Apr, 2012 08:16 pm
My spouse and I plan to take out a FHA mortgage in the next 3 months. However, my spouse filed bankruptcy less than a year ago. So, we’ll be using my credit only. I have about 4k in savings and she has about 3K which we plan to use in addition to her incoming salary. Recently I heard that we need to "season" our savings which would need to be in my account for approximately 90 days, but my question is will mortgage underwriting have an issue with moving from her savings to mine? My mid-score is about 680+ and I do have a couple of late payments, but more than 20 months ago. Any insight would be greatly appreciated.
Welcome Cleve and Maira,

Your wife's savings can be moved from her account to your account but may be the lender will want her to write a gift letter in your favor. This will make it easier for you to get the loan.
Posted on: 18th Apr, 2012 09:28 pm
Rule of thumb with depositing any money...NEVER deposit cash, or any other deposit that cannot be sourced. Husband and wife is acceptable to exchange money, but the money needs to be sourced. Save all your deposit receipts and copies of checks deposite. NO CASH...Good luck!
Posted on: 19th Apr, 2012 11:56 am
Good Day,
My name is Bryan Dream,i am a registered and a legitimate loan lender who gives out loan at a very low interest rate of 3%.I give out both business and personal loans to people and organization who needs loan ranging from $2000 to $50,000,000.If you also need an unsecured loan and secured loan we can as well approve it for you.Our loans are guaranteed with no time wasting.You can contact me on for more information
Posted on: 22nd Apr, 2012 09:31 am
You plan to use her income, but, not her credit?

That is not possible. If you use her income, you must also use her credit history. She filed bk less than a year ago. Unless there were extraordinary circumstances, you must use her credit and may notr be able to get a mortgage with the bk less tha 2 years discharged.
Posted on: 23rd Apr, 2012 11:03 am
Im in A similar situation I've been married less than a year and my score is mid 600s but my wife's is considerablely lower due to issues from her previous marriage. Will FHA do a loan in just my name if I plan to use just my income as payment for the loan?
Posted on: 27th Apr, 2012 10:02 am
Certainly, just do mortgage in your name and not your wife's name also.

However, if you are in a community property stae, her credit may be a factor anyway.
Posted on: 27th Apr, 2012 10:09 am
I do live in Idaho which I believe is a community property state. So does that mean I don't qualify?
Posted on: 27th Apr, 2012 10:25 am
Idaho is one of the community property states

I can not answer your question.
I have never done mortgage lending in any community property states and I am not qualified to answer you.

If no one answers you, email: shane@the besthomeloans.ocm
He can answer yoiur question and do the loan

Good luck
Posted on: 27th Apr, 2012 10:41 am
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