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I am married but my wife has little credit and is 1099. I make over 275k per year with 620 score.

by lvglitter165 from Phoenix, Arizona. Jun 16th 2016 Reply


we live in the house we will be buying, they want it done by end of August 2016. Is this realistic?

Jun 16th 2016
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Julio Zapata (jzapata@amerifirst.us)
#162 ranked lender in Arizona - 4 contributions

I don't see any issues with what you have described.

Jun 16th 2016
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Julio, the house is 415k. I have a few dings on my credit we are working on correcting. How much is required now in AZ in our situation? Thanks

Jun 16th 2016
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Kirk Anderson (KirkAnderson)
#3 ranked lender in Arizona - 45 contributions

What exactly is your question?

Jun 16th 2016
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Scott Harward (scott_957_225)
#119 ranked lender in Arizona - 7 contributions

With your credit score and income you should be fine qualifying for a conventional loan which would not require putting your wife on the loan unless you wanted to. The max. conventional loan amount in Maricopa County, Arizona, is $417,000. If you want to go over specific interest rates and loan program options please email me at Scott@azms.net.This is my 23rd year helping borrowers in Arizona. Thanks.

Jun 16th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

More info needed, but in general, 1099 income is counted if she's been recieving it for 2 or more years.. and 620 is within the acceptable range for financing.. but we would need to know your debt, and the payments associated with that.. as well as how much your looking to borrow.. There are a lot of details missing, but I would be happy to discuss your specific scenario and put together a game plan.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Jun 16th 2016
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Steven Karp (stevek81)
#29 ranked lender in Massachusetts - 120 contributions

this should be no problem for almost any bank in the country, even with that credit score...you will take a hit on the rate....if you are below 620, you would have to go FHA...but again, this is do-able.

Jun 16th 2016
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

You should be ok, but mush more information is needed.

Jun 16th 2016
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