What kind of interest rates can I expect on a mortgage(first time buyer)?
Well, there are several factors… 1. if your husband can show that his debt to income ration is very low, then he may be able to carry the loan himself… Using only him on the loan with the higher score. 2. if his income is not enough then both can be on the loan, they will take your middle score + his middle score and avarage them. A+B/(2) This score will be 630 (by what you have above). 3. You may be able to obtain financing in your name only. However, I doubt that it will be a conformang loan. There will be heavy closing costs, and more than likely they will offer you only an ARM (Adjustable rate mortgage). What I would do immediately, is first try to clear as many balances on your credit cards as you can… Multiple accounts that carry a balance can lower your score. So, try to transfer your balances to 1 card if you are able. You do realise that an 80/20 loan means that you are putting down 20% and the bank loans 80%. That means that you will have to put down $30,000 – $34,000 b
