Should We Be Able to Buy a House?

[H_Shelton919]

My husband and I have been renters for a year and as we are wanting to expand our little family, we would like to be as comfortable as possible-meaning a house. My husband has been on his job since march but has been in the military for the past four years (national guard-not active duty) and I am currently in school and not working. Before we were married, I didn't have any credit and his credit wasn't great. Still isn't. But we have been trying our hardest to pay off our debts. We payed his car off and we don't have any credit card bills. 2 or 3 hospital bills that equal around $500 all together and I have one membership that equals $900 total to pay off. We have always heard that we couldn't get approved for a home loan until he has been on his job for over a year. We really want to get a house especially when a baby comes along and renting is just throwing money out of the window. We would really love some advice about trying to get a house and raising our credit scores without getting in too deep. Any help is greatly appreciated.

[stroked89coupe]

Moving to the correct section for you. Welcome to the community.

[H_Shelton919]

Thank you. Lol I'm new to this whole thing.

[boomhower1820]

Do you have any idea on the his scores? How old are the derogs? Can you give any more info on his employment history? Was he out of work for an extended period or is it just a new job? How's the savings/reserves?

[Brian B The Loan Professor]

My husband and I have been renters for a year and as we are wanting to expand our little family, we would like to be as comfortable as possible-meaning a house. My husband has been on his job since march but has been in the military for the past four years (national guard-not active duty) and I am currently in school and not working. Before we were married, I didn't have any credit and his credit wasn't great. Still isn't. But we have been trying our hardest to pay off our debts. We payed his car off and we don't have any credit card bills. 2 or 3 hospital bills that equal around $500 all together and I have one membership that equals $900 total to pay off. We have always heard that we couldn't get approved for a home loan until he has been on his job for over a year. We really want to get a house especially when a baby comes along and renting is just throwing money out of the window. We would really love some advice about trying to get a house and raising our credit scores without getting in too deep. Any help is greatly appreciated.

Welcome to the forum

The employment needs to be consistent for two years. It just has to be in the same line of work -

It sounds like you have some scars on the credit - get those paid asap

Make sure you have an active positive tradeline or two - these help to show that you can use credit correctly and will help raise the scores while you are waiting for the bads to age - It sounds like you are going to need some time to get the scores up (you didnt say I am just assuming)

Be patient set a goal and stick with it....

 

 

B