Expecting baby #1!!! asked:
I have seen SO many mixed answers on this site and I’d like to hear from either a mortgage lender, or someone who has recently been qualified for a loan. I have a credit score of 650 and my husband is 570. I know his is bad, and mine is fair, but I would like to know how they will decide? I make slightly more money and have seen answers that the primary breadwinner’s score is taken into account. I have also read that they average the 6 scores. Then I have heard that they take the lowest middle score. Which is true? We are trying to qualify for a RD Loan and most of our bad credit is due to student loans. We are paying our loans back and can easily continue to do so while affording mortgage payments as they are not much more than our current rent payments. Any help please? Thank you!
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I have seen SO many mixed answers on this site and I’d like to hear from either a mortgage lender, or someone who has recently been qualified for a loan. I have a credit score of 650 and my husband is 570. I know his is bad, and mine is fair, but I would like to know how they will decide? I make slightly more money and have seen answers that the primary breadwinner’s score is taken into account. I have also read that they average the 6 scores. Then I have heard that they take the lowest middle score. Which is true? We are trying to qualify for a RD Loan and most of our bad credit is due to student loans. We are paying our loans back and can easily continue to do so while affording mortgage payments as they are not much more than our current rent payments. Any help please? Thank you!
Caffeinated Content – Members-Only Content for WordPress