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With fair credit but income of 130k per year for one person with a spouse that has good credit with 36k per year would a mortgage be approved?
Wiki User
∙ 9y ago
You would definitely be able to get a mortgage. The specifics of your credit history would determine the amount of interest you would be charged.
Wiki User
∙ 9y ago
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Where can someone with bad credit apply for a home loan mortgage?
Having bad credit does not stop a person from applying wherever they wish to for a home loan mortgage. It does, however, make it significantly less likely that they will be approved.
How can one get a mortgage if they have bad credit?
There are many mortgage alternatives such as leases, though a person may be able to co-sign on a mortgage with someone with excellent credit. Many times, private lenders will offer a mortgage to someone with bad credit. There can also be social programs that offer resources to low income families.
Can a person with lower income and good credit still get a mortgage without a cosigner if their down payment is large?
As long as their debt to income ratio is low enough. Generally your mortgage payment should be 25-35% of your net income (what you actually bring home)
How can a person with bad credit increase their chance of qualifying for mortgage loans?
There are a couple steps to take in order to qualify for a mortgage with bad credit, such as check your credit report, demonstrate a steady income, eliminate all other debt and to also look for a co-signer.
Can a single person get a mortgage?
Yes. Getting approved for a mortgage depends on your ability to pay, not on your marital status.
Where can someone with bad credit apply for a home loan mortgage?
Having bad credit does not stop a person from applying wherever they wish to for a home loan mortgage. It does, however, make it significantly less likely that they will be approved.
How can one get a mortgage if they have bad credit?
There are many mortgage alternatives such as leases, though a person may be able to co-sign on a mortgage with someone with excellent credit. Many times, private lenders will offer a mortgage to someone with bad credit. There can also be social programs that offer resources to low income families.
Can a person who is disabled be put on a mortgage?
Yes, depending on their credit record and income and whether those meet the requirements of the lender.
Can a person with lower income and good credit still get a mortgage without a cosigner if their down payment is large?
As long as their debt to income ratio is low enough. Generally your mortgage payment should be 25-35% of your net income (what you actually bring home)
Can a civilian assume a mortgage of a VA property?
Yes, a civilian can assume a mortgage of a Virginia property. In order to get a loan for a property in Virginia, the person must have a credit check completed. If they have good credit, their chances of being approved for the loan are higher. If they have bad credit, the bank or loan officer may ask for the person to have a cosigner.
How can a person with bad credit increase their chance of qualifying for mortgage loans?
There are a couple steps to take in order to qualify for a mortgage with bad credit, such as check your credit report, demonstrate a steady income, eliminate all other debt and to also look for a co-signer.
Can a single person get a mortgage?
Yes. Getting approved for a mortgage depends on your ability to pay, not on your marital status.
What part of ones credit matters when filing bankruptcy?
The average annual income rate of the person's business or household income determines a portion of bankruptcy reports. The other portions determine the person's tax rates, mortgage, and average spendings.
If you have private mortgage financing if one person on mortgage wants their name removed from mortgage how do you do it?
See your lender. You may have to refinance because the mortgage was based on both your credit, income etc. If that is the case you will have to go through an entire new mortgage process just for yourself. If you cannot afford to refinance on your own, the other person can force a sale of the house by using the courts.
Where can a person go to get information on mortgage lenders for bad credit?
There are a few websites where one can go to get information on mortgage lenders for bad credit. Realtor have an article on how to get a mortgage with bad credit. The Bad Credit Whiz website has a list of the top 10 bad credit mortgage companies.
If you are not the primary person on the mortgage is you credit rating affected?
As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer
Where is it possible to refinance a home mortgage if someone has bad credit?
There are many places a person can go to refinance a home mortgage if they have bad credit. Bad Credit OK and Quicken Loans are two websites a person can use to help refinance their home mortgage.
