anyone wanna share how they felt their credit situation was when they bought? Ours is so-so. We are unsure what route to take in order to clear it up. Im wondering if anyone bought a house/co-op/Townhouse without perfect credit.
TracyInQueens
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Re: Credit and buying..
You have FM.
btrflygrl
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Re: Credit and buying..
no such thing as perfect credit.....ours is mid range and we had no problems buying a house, but we also got a lawsuit settlement and are paying off several debts so that we will only have one car payment and the mortgage to worry about aside from normal bills.
september2004
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Re: Credit and buying..
we fixed DH's credit over a span of 3 years. what hurt him most was an outstanding school loan that he had no reason not to pay off. once he did that, the other dings started to drop off here and there - once/twice a year he 'scrubbed' his credit report and contested practically everything. if the credit agency does not respond in a certain period of time (one month?) the infractions come off...
i was worried about this for our future home purchase, his score is fine now and we shouldn't have anything to worry about. unfortunately, i still have the better score and he has the better salary.
kimmiekakes
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Re: Credit and buying..
Posted by dm24angel
anyone wanna share how they felt their credit situation was when they bought? Ours is so-so. We are unsure what route to take in order to clear it up. Im wondering if anyone bought a house/co-op/Townhouse without perfect credit.
Yeah I would like to know this also.
skew
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Re: Credit and buying..
what do you consider to be so-so? rates can fluctuate depending on credit scores. some lenders are more stringent then others. from what i understand, the median score for approval (both applicants) is 650. at least it was in our case (jumbo mortgage). over 700 is desireable.
LuvMyMichael
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Re: Credit and buying..
We were both lucky....both in the 700's. We had to have the bank look u our credit scores, and in the case of doing the 80/20 loan you have to have atl east 700 to do it. We are using Washington Mutual and that is what our Financial Advisor told us.
