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Trying to buy a home -- need credit boost for Fiance


coderedDD
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The last post in this topic was posted 1658 days ago. 

 

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How much do you both make? Can you buy a home with just your income?

 

What other debts do you have. the amount you can borrow is dependent on debt to income.

 

Others can help you on her score but I don’t think there are any quick fixes it will take time.

she makes close to 40,000 a year and i make close to 50,000 a year. My income alone only qualifies me for a $400,000 home. Were not going to find one we like and in a descent neighborhood for that amount.

 

$400k would get you a mansion with about 6 bedrooms and 4 baths here on the Gulf Coast. Have you considered moving to a cheaper area and commuting?

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How much do you both make? Can you buy a home with just your income?

 

What other debts do you have. the amount you can borrow is dependent on debt to income.

 

Others can help you on her score but I don’t think there are any quick fixes it will take time.

she makes close to 40,000 a year and i make close to 50,000 a year. My income alone only qualifies me for a $400,000 home. Were not going to find one we like and in a descent neighborhood for that amount.

 

$400k would get you a mansion with about 6 bedrooms and 4 baths here on the Gulf Coast. Have you considered moving to a cheaper area and commuting?

 

 

Yes, we live in California, and close to the beaches. So the house costs are high, and my job is close to the beach so im trying to avoid the freeways as much as possible... thanks for all the feedback everyone, gonna be reading and figuring everything out... we may just rent a 2 or 3 bedroom for year till her credit straightens out.

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How much do you both make? Can you buy a home with just your income?

What other debts do you have. the amount you can borrow is dependent on debt to income.

Others can help you on her score but I don’t think there are any quick fixes it will take time.

 

she makes close to 40,000 a year and i make close to 50,000 a year. My income alone only qualifies me for a $400,000 home. Were not going to find one we like and in a descent neighborhood for that amount.

$400k would get you a mansion with about 6 bedrooms and 4 baths here on the Gulf Coast. Have you considered moving to a cheaper area and commuting?

Yes, we live in California, and close to the beaches. So the house costs are high, and my job is close to the beach so im trying to avoid the freeways as much as possible... thanks for all the feedback everyone, gonna be reading and figuring everything out... we may just rent a 2 or 3 bedroom for year till her credit straightens out.

$400K won't buy you an empty lot in Newport Beach.

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Okay, the first thing you need to do is to get her some positive credit. Since your credit is good, that should be easy. Pick your best accounts (high limits/low balances, paid on time, the older the better) and add her as an authorized user. Those good tradelines will show up on her credit report in about 30 days and will work to dilute the high debt-to-limit ratio that she is currently experiencing.

 

Second, work on getting rid of any collections she may have. Contact the collection agencies and indicate that she would be willing to pay in exchange for deletion. See what they say.

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OP wait until you get the paper reports then post the info here. If within SOL you need to be careful.

 

I am surprised at all the advice without knowing what is on her reports. This is a marathon not a sprint.

 

AU on a good card was a good idea.

Edited by tiggerlgh
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The last post in this topic was posted 1658 days ago. 

 

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