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my husband and I are trying to buy a house, just l

Submitted by lmstrokel on Fri, 04/01/2011 - 18:39
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my husband and I are trying to buy a house, just looking right now. We have been throug this process before. We keep getting told that our debt to income ratio is to high, credit score too low. My credit score is awful, so my help on this situation is out of the question. We have recently paid off his jeep and now wroking on paying off student loans, another car payment, and misc. debts. How do we get a home when no one will give us a loan?


It is fact that unless you've the required debt to income ratio and a good credit score, it will be difficult for you to get a mortgage to buy a property. It is good to note that you've paid off your husband's jeep and now you're working on paying up your other debts. Once you pay off some of your debts, you'll find that your debt to income ratio has increased. You should also take steps in order to increase your credit scores. Paying off some of the debts will help you increase it. Also, you should make sure that you do not make any kind of late payments on your debts. Once you stop making late payments, your scores will increase. In order to get a conventional loan, you should have a credit score of around 700-720. Once you achieve this credit score, you'll be able to get a loan.


Submitted by Anna Sweeting on Sun, 04/03/2011 - 19:52

Anna Sweeting

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