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i have not so good credit but my fiance' has great credit will my credit be a huge issue when buying

We are first time home buyers and have a foreclosed home that we are looking to purchase. I am afraid my credit will be an issue.
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September 02 2009 - Birmingham
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Your lender should be able to look at your entire portfolio and determine if it is better to use just your wife or both of you.  Not a big hurdle to get by.
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September 07 2009
Good afternoon Csanchez3233,

This really depends on your FICO score and situation. If you and your fiance' are planning on obtaining a loan together and your FICO score meets lending guidelines you should be fine. Sometimes less than perfect credit will warrant a rate hike; furthermore, your fiance' may be able to obtain a loan in his name solely and if this is possible you may be able to avoid hassle or worry about your FICO score affecting your desired purchase/loan.

Personally, being that I am not an expert in lending but just have some basic knowledge, I advise you speak with a lender to get accurate information. Most lenders are very helpful, will guide you through the process and educate you on potential issues that you may face.
 
If you are in California and would like a recommendation, feel free to contact the lender I use as he is great with clients. His information is located here: [content removed by moderator for being self promotional] and he would be more than willing to help.

In regards to purchasing a foreclosure property, should you get pre-approved and have adequate documentation to support your financial position you should have no problem purchasing a property within your budget. The only difficult part about the Buying process right now is the huge increase in demand. But it is still possible and an exciting experience!
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September 02 2009
 
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