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What determines the mortgage on a house? My husband and I have rebuilt our scores and are at a 650. He makes about 80k and I am a student working part time making about 8k a year.

by Latoya James from Portland, Texas. Dec 1st 2015 Reply


Brian Striegold (BrianNRL)
#164 ranked lender in Texas - 22 contributions

please call me 281-833-9424

Dec 1st 2015
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Cody Velkovich (Cody_APM)
#165 ranked lender in Texas - 98 contributions

Thanks for your questions, Latoya. There are multiple different programs that y'all could qualify for with a 650 FICO score and $80K+ in annual income. Feel free to reach out to me through my profile and I can answer any questions that you may have.

Dec 1st 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

Your question is confusing.. but if your asking about how to qualify for a mortgage.. then knowing one credit score and your income isnt really enough to determine your eligibility.. Lenders look at all 3 major bureaus for all borrowers.. so 3 scores for you and 3 for your husband.. and the lender prices the loan based on the mid score of all borrowers.. Also knowing your income in just one part.. lenders look at your debt to income ratio.. so we would need to know what your monthly debt payments are.. realistically, you need to call a professional... so I suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. 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

Dec 1st 2015
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Ralph Richard Guertin (ralph@absolutelowrates.com)
#1 ranked lender in Florida - 796 contributions

WOW, you can borrower up to 97% of the value on a purchase, but not enough info to go on...

Dec 1st 2015
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