Zillow Advice: Buying Process - What can do if I want to buy a home and my husband and I have poor credit? http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ Zillow Advice | Zillow Real Estate Pay cash.OK, OK! Seriously, ... http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ Pay cash.<br/><br/>OK, OK! Seriously, if you rephrase the question to: "what do I do if I want to borrow a lot of money when I have poor credit," my answer would be, "work on rebuilding your credit."<br/><br/>I know that people can get loans with credit scores in the low sixes, and to me, that's just asking for trouble. A low credit score doesn't make you a bad person, but it identifies you as someone who isn't especially good at managing their money and making payments on time. In my view, these are skills that BOTH OF YOU want to hone BEFORE taking on a thirty year mortgage.<br/><br/>The leading cause of marital problems, by the way, isn't what you'd expect (most people think it's taking advice from blogs), it's money management. Both of you are probably doing fine because you're forgiving each other's behavior, given that each one's is about as good as the others. But if you get yours up into the seven hundreds, and he's still struggling in the high fives and low sixes, it still won't be time to take on a mortgage.<br/><br/>So: New Year Resolution? Let's both improve our credit scores!<br/><br/>All the best, Mon, 30 Dec 2013 00:23:00 GMT http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ 2013-12-30T00:23:00Z How low is your credit score? ... http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ How low is your credit score? Some lenders accept a not so perfect score if you have a large down payment. Otherwise, you will have to work on improving your credit rating first. Sun, 29 Dec 2013 19:16:00 GMT http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ 2013-12-29T19:16:00Z In my area you would need ... http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ In my area you would need to improve your credit first in order to get a loan to buy. A good first step would be to talk to your bank and see what the loan officer there recommends. Sat, 28 Dec 2013 00:06:00 GMT http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ 2013-12-28T00:06:00Z My Credit score is a 621 ... http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ My Credit score is a 621 which is just above the bad mark and is considered "fair". I have an auto loan which was considered a "red flag" and a few accounts that were fulfilled but still had "red flags" because some of the payments were late but those accounts are no longer active so I am wondering if they have permanently tarnished my credit. Fri, 27 Dec 2013 23:18:00 GMT http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ 2013-12-27T23:18:00Z There are&nbsp;a number of ... http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ There are&nbsp;a number of reasons that people have low&nbsp;credit scores. Sometimes it is their own fault,&nbsp;sometimes it is due to multiple reporting&nbsp;errors by the creditors. Your first step needs to be contacting a reputable credit repair company and get a free evaluation. That way, you will&nbsp;have a starting point on what&nbsp;needs to happen to get your scores at least above 640, which is&nbsp;where it will need to be to qualify for a home.&nbsp; Fri, 27 Dec 2013 15:25:00 GMT http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ 2013-12-27T15:25:00Z Hi,I would recommend you ... http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ <br/>Hi,<br/><br/>I would recommend you sit with a lender so they can actually run your credit. After seeing what is affecting your FICO scores, most lenders will provide free credit counseling so that perhaps after six months, one year, two years, etc. of working on raising your credit scores, you can be in a better position to obtain a mortgage loan.&nbsp;Your realtor probably works with a few lenders or you may want to find one through referrals, Zillow, etc.&nbsp;<br/>It may be a tough process, but credit is but one of the factors in determining your ability to buy a home and I hope you don't give up on the homebuying dream because of it.<br/><br/>Good luck and hope you and your husband are homeowners soon!<br/><br/><br/> Fri, 27 Dec 2013 08:55:00 GMT http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ 2013-12-27T08:55:00Z There are several actions ... http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ There are several actions you can take to improve your credit. Depending upon your particular situation the road to improved credit can be an easy or long process. You would definitely want to talk to a lender who can guide you in the right direction. Most banks require a 640 credit score in order to get approved but there are a few lenders like myself that can approve down to a 530 score. I would love to chat with you and assist you in improving your credit. Credit improvement should be tailored to your specific situation. Contact me thru my profile page if you would like me to take a look at your situation.<br/><br/>Good luck! Thu, 26 Dec 2013 23:49:00 GMT http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ 2013-12-26T23:49:00Z Talk with your lender. They ... http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ Talk with your lender. They can give you ideas on what you can do to most efficiently repair your credit and get in your dream home asap. There will be work involved, but keep at it. Homeownership is a great prize. If your credit isn't terrible, you might be able to qualify for a loan with a higher interest rate and refinance in a couple of years when your situation improves. Good luck! Thu, 26 Dec 2013 23:37:00 GMT http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ 2013-12-26T23:37:00Z Are you willing to share ... http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ Are you willing to share your actual FICO credit scores?<br/><br/>If your credit is poor so you aren't qualified for a mortgage&nbsp; and you are unable to purchase with cash,&nbsp; your first step is to identify actions to improve your credit and start working on them. &nbsp;&nbsp; Here's a link to <a href="http://www.zillow.com/wikipages/Buyer%27s-Roadmap/">Zillow's homebuyer's road map.</a><br/><br/>&nbsp; Thu, 26 Dec 2013 23:06:00 GMT http://www.zillow.com/advice-thread/What-can-do-if-I-want-to-buy-a-home-and-my-husband-and-I-have-poor-credit/522492/ 2013-12-26T23:06:00Z