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Anyone in here a relator or home buying expert?

Posted by on Apr. 19, 2010 at 11:45 AM
  • 7 Replies

I need  some help. I want to buy a home in my area the price is 112,000 with my credit I could put 7,000 down and my payments would be 701 dollars a month. The problem is I don't have a job, my husband is the one that would have to pay it every month which he could afford, no problem but he has horrible credit. We need to get the loan in my name, but how can we do that if I'm not the one with the income? We'd never get a loan in my husbands name, which really sucks... I want this house so badly lol I really don't think a bank isgoing to give us a loan...what can I do?

by on Apr. 19, 2010 at 11:45 AM
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Replies (1-7):
BraydensMama163
by on Apr. 19, 2010 at 12:01 PM

BUMP!

dosthepost
by on Apr. 19, 2010 at 12:03 PM

No idea. It's best to call and just talk with a mortgage company or bank to find out how that would work. I don't work, and the deed to our home is in both of our names, but the LOAN is only in his... and as far I know that's how it had to be. 

kerijeanbean
by on Apr. 19, 2010 at 12:35 PM

You can apply for the loan jointly.  You need to find a really good loan guy and he can use more of your credit and his income.  It will work out.  There are also incentives or first time home buyers if this is your first home.  Good luck.

mama2KiraEthan
by Bronze Member on Apr. 19, 2010 at 12:53 PM

I work in a real estate law office..and I have seen situations like this many times. I would suggest speaking with a mortgage broker/specialist because they have access to manye different banks and private lenders as well (don't know where you live and how it works).

Good luck!

kltaylor07
by on Apr. 19, 2010 at 12:55 PM

I'm a realtor and I agree with previous posters.  The best thing you can do is go talk to a couple of lenders and brokers in your area.  Give them all the information, including your husbands work history with paystubs or banking information.  Show them that he has a history of income coming in.  Good luck! 

Realtor/Interior Designer  -  Oklahoma City  -  www.KateLadwig.com

BraydensMama163
by on Apr. 19, 2010 at 2:37 PM

I just talked to some one online about it, he's a realtor and he said there would be nothing he could do because I have no job, so I asked what if we use my credit and his income and file for the loan jointly? I'm waiting for an email now.

BraydensMama163
by on Apr. 19, 2010 at 2:54 PM


Quoting kltaylor07:

I'm a realtor and I agree with previous posters.  The best thing you can do is go talk to a couple of lenders and brokers in your area.  Give them all the information, including your husbands work history with paystubs or banking information.  Show them that he has a history of income coming in.  Good luck! 

I asked that guy I was speaking with if we could get the loan in both our names that way it'd show my credit and his work history and he said no I wouldn't be able to do that.....he said there's nothing we can do except build my husbands credit up before we start looking for a place.

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