- May 29, 2003
- 18,526
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The wife and I are looking to buy a home if at all possible for many reasons such as getting out of the renting life, starting a family, etc...
In the past two years I totally f'ed up my credit after being in a wreck and losing my income but that's a whole other story.
Now we're both working at decent paying jobs and easily make the dough to cover a mortgage but since my credit score is so crappy I can't get approved for anything and her income alone isn't enough to get us approve for a FHA loan that'd be enough money.
We're looking to get around a $180k loan and since FHA is out of the question since my credit has "dings" on it within the past 12 months, I was thinking maybe we'd have better luck with a 80/20 loan but don't know if there's some other kind of loan that'd be better for our situation.
Again, we could easily afford a payment on even a $200,000 loan but due to my credit history and score, it makes it difficulty (read: seemingly impossible) to use my income to our advantage, when I actually bring in more than my wife.
Any mortgage people on here have any suggestions?
In the past two years I totally f'ed up my credit after being in a wreck and losing my income but that's a whole other story.
Now we're both working at decent paying jobs and easily make the dough to cover a mortgage but since my credit score is so crappy I can't get approved for anything and her income alone isn't enough to get us approve for a FHA loan that'd be enough money.
We're looking to get around a $180k loan and since FHA is out of the question since my credit has "dings" on it within the past 12 months, I was thinking maybe we'd have better luck with a 80/20 loan but don't know if there's some other kind of loan that'd be better for our situation.
Again, we could easily afford a payment on even a $200,000 loan but due to my credit history and score, it makes it difficulty (read: seemingly impossible) to use my income to our advantage, when I actually bring in more than my wife.
Any mortgage people on here have any suggestions?