Buying A House With Bad Credit

by ME from USA

Ask Kate about buying a house with bad credit: Hi Kate! We want to buy a house. Is it better or will it hurt if one of us has terrible credit but the other has good credit when requesting a mortgage together?

Kate Answers: Buying A House With Bad Credit Question

Dear ME, Terrible credit is the big bully overpowering good credit.

Say you earn tons of money but your co-borrower makes minimum wage. No worries! Both incomes are added together and used as joint income to calculate debt ratios.

But not so with credit. Bad credit is not averaged with good credit to equal semi-okay credit!

Solutions - Buying A House With Bad Credit

Then what's the solution if Borrower One with bad credit makes the lion's share of the income and Borrower Two with perfect credit only earns minimum wage?

Option 1- Borrower Two applies alone although the amount qualified to borrow is reduced due to limited income.

Option 2- Borrower Two brings on a non-occupant coborrower although available loan programs become restrictive.

Option 3- Borrower One improves credit history.

Set The Record Straight - How To Correct Your Credit History

Are you under the impression nothing can be done to improve YOUR credit today? Thankfully, this is NOT true!

Federal law says you have the right to correct misinformation on your credit report.

Yes, it's worth repeating! Federal law says you have the right to correct misinformation on your credit report.

Ultimately, you are responsible to make sure your credit report accurately reflects your history. However everyone needs a helping hand when it comes to correcting misinformation contained in credit histories. So I am introducing you to Lexington Law.

Since 1991, Lexington Law has led the charge to bring quality credit repair services to the average consumer. They know how to make the credit repair process easy and effective! You can trust your fight for better credit to Lexington Law Firm!

Get my personal review of Lexington Law here!

Let's put an end to buying a house with bad credit! Don't you deserve it?

Click here to post comments on ME's letter.

Best Wishes,







You are invited to Ask Kate about buying a house with bad credit... or anything regarding real estate or mortgage financing!

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