Hi, I and my husband plan to apply for the mortgate soon. But the problem is his credit is not so good. My credit is good (TU 814, EXP 740) but I am not working. (no income) I was thinking to change all my credit card to joint with my husband. Does it help his score? Which one is good for him Individual or Joint? I know that he will be the only one who get the mortgate. Thanks AUX
why not do a no-doc loan with just your creditscore? here is a usefull website to check http://www.greenpointmortgage.com/index.jsp?PageID=1.1.12 Or goto the motleyfools forums and look for a broker called david dunhoff, with scores like yours you be in a house in no time!
no problem. Reason I am sure you will be able to obtain a no-doc is because I also have good scores but no substancial proof of income ( self-employed) I you want honest answers goto www.fool.com and find the broker called david dunhoff, he has helped a lot of people and can even give you references of people he helped. btw I am in no way associated with the guy, good luck
Thank you so much. By the way, I got the house already? We are planning to apply for mortgage next 2 months. My husband's scrore is around 670, we also don't have a lot of money for down payment. Thanks again AUX
670 is a good score, really. go talk to david dunhoff, you will be suprised on the knowledge he has. here is a direct link to the forum, you have to register for free before you can post http://boards.fool.com/Messages.asp?bid=100144
Thats not true. you can get 5 or 10 % down. with your scores. but your husbands scores are not that bad either, you problably can do a conventional loan also. Go talk to david. You will not regret.
Does anyone know if she did add him as a joint account holder that it would help? What about an AU? My DH and I was thinking of the same thing (the rest of our CC). I was wondering if this would work? ****I have added my DH to two of my CC this month. I am waiting to see if it works.... I was in hopes that someone else has tried this before and got positive results*******
To improve your husbands score, add him as an authorized user on any card that has a perfect history. The history of the card will be added to his credit report. I like this better than joint, one phone call and an authorized user can be removed. Which helps if the card goes South. Also an authorized user benefits from the good marks but is not liable for the bill. I would trade scores with him as 670 is not bad.
