Hello all, my fiancé and I are currently trying to get pre-approved for a home loan. My credit it is in the 700-720 range and her credit is no good (due to her parents opening credit cards in her name and never paying them), so we are just trying to get my name on this loan and we need to do it before the wedding (September) when they have to look at both of our scores. I make 25000 a year and I don't have very much monthly debt, just a credit card for 50 a month, student loans I can't remember exactly but it's somewhere in the 50-150 range, and a car payment of 210. My fiancé is self employed and we currently pay rent for 1000 every month so we know we are capable of handling a mortgage so it's frustrating that it's so difficult to get pre approved. I spoke to a loan officer and he said what I would need to do is make this 210 go away to get pre approved. We've come up with a few solutions but I'm not sure how well they'll work. My brother said I could put my car in his name and pay him the 210 until I get pre approved and then put it back in my name so it doesn't appear that I have a car payment but I believe that would be a complicated process. We believe our only other option would to be to sell my car for what I owe on it still (8000) and just share one car for awhile. Does anybody have any other suggestions on what we should do in this situation? Feedback is much appreciated! Thanks in advance!
Submitted May 15, 2017 at 08:31AM by BigFudg http://ift.tt/2riqn7d
