Article Score0

My bf is trying to purchase this house from his grandpa for $ 60,000. He just bought a car which I co-signed (they made me the main buyer cuz my credit was better so I’m not sure if that auto loan affects him too). His credit score is around maybe 650, makes about $ 1800 a month, and has about $ 2600 in credit card debt. How likely is he to get approved? Does the auto loan affect his credit too? Would he need me to get approved ffor this mortgage? My credit the last time I checked was 727, I make about $ 2200 a month, and have $ 600 credit card debt plus the car we bought was $ 23,000.

1 Thought on How hard is it to get a mortgage loan these days?
  1. Reply
    sarahsmile90
    February 15, 2014 at 7:27 am

    If you co-signed on the auto loan, then he will be on it also. This is good and bad for him. If the loan is being paid on time it shows the mortgage company that he is paying in a timely manner. The bad is that it affects his debt to income ratio. It really depends how many other bills he is paying each month, but with his income and the car and credit card debt, it sounds like he may need you to cosign on the mortgage.

    Leave a reply

    Register New Account
    Reset Password