Posted by js-Indianapolis on September 20, 2002 at 14:49:00:
Wouldn’t stated be NON-conforming? Also, I’m sure they would both like to be on the loan. Any way to do this conventionally?
I’m not going to spend my hours looking for a non-conventional loan that doesn’t have an issue with seasoning. I know FHA doesn’t.
Wife has good credit, husband has bad-What to do? - Posted by js-Indianapolis
Posted by js-Indianapolis on September 20, 2002 at 04:30:09:
Talked with someone with the wife whose credit is good enough for conventional, husband’s is shot. I don’t have exact numbers, but I gathered it is WAY shot, and hers is WAY good.
Here’s the kicker. She shows low income, he shows high. Read SHOWS. They are looking at putting down 20%, and getting a co-signer. I don’t think it needs to be that drastic.
So that’s how the deal sits. Mega cash (not an issue), good/bad credit. Can they get FHA? I’m looking at a double close situation, which is going to be an issue for non-conforming. I think they might be first time. I suppose I should have asked.
It’s a friend of mine, and I know I can find her a place, below market. They are looking at getting out of the rental scene, and MIGHT consider l/o. I know I could set that up, but I get the feeling they would like to go more conventional. As well, I would. I don’t feel like being my friend’s landlord, for any length of time.
SO, what to do?
Re: Wife has good credit, What to do? - Posted by JoeS
Posted by JoeS on September 20, 2002 at 06:09:11:
Go stated, there are several programs out there as long as her score is where you say it is.