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alexsmith

Looking to purchase a house in the next few months...First time buyer

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I would like to thank the members on here especially whychat for the assistance with cleaning my credit. I currently have no negatives on my credit report and my utilization is around 25% on credit cards. I'm married and looking to purchase a house in the $200 - $320 range in the Maryland area and was looking for the advise on what I should expect with me and my wife's FICO's. Currently we both make around $180K and my FICO score is currently around 705 to 710 with all three credit bureaus and my wife's is 690's FICO scores. My wife does have one negative from an old utility bill and a paid school loan debt that's shows as paid. I am thinking about applying with either Navy Federal or USAA for a loan and wanted to know some experiences or advise since this would be my first home, would my wife's credit baddies effect my interest rate? Is it better to use a bank that a realtor recommends for a better deal?




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You don't mention the type of loan you plan to apply for.

I will assume you are going VA.

Your's wife's slightly lower scores will not effect your rate by much if any if you are doing a VA loan.

Rates on government loan don't rely heavily on credit score.

Realtors are always going to recommend someone they have worked with in the past.

Get a quote from the realtors guy & get a quote from 1 to 2 others.

Compare rates & cost to determine the best deal.

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