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Answers (4)
- Cheryl Talbot Real Estate, "Virginia Beach Homes"
- Contributions:674
The best way to find out for sure would be to get with a lender. I would try going to your bank first. Most banks have lending divisions and they know what it takes to get you a home loan today. They don't charge anything for the service and are there to assist you in finding the right loan for your situation. Try gving them a call first. Thank you for your question.
- Andrew Adams, "203K Specialist"
- Contributions:9349
Lenders will use the lower middle score...they don't Average them out. Good credit will not offset bad credit.
- Mike Bjork, "MortgagePlannerMike"
- Contributions:346
If the partner with the good credit can qualify alone, then it's best to use Conventional financing. Depending upon the extent of the partner with the bad credit, then FHA may be a good program for you. It will really depend on the extent of the "bad" credit. There may be items that will need to be cleared before any financing will be available.
- sunnyview
- Contributions:25139
If you buy together, lenders will look at both credit scores. What I saw in the past is that lenders tended to go off the middle score of the person with the worst credit, but maybe that's different now.
What mortgage loans are available for partners with one good and one bad credit?
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