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Denied A Home Loan

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gousto64

Question

Today I was denied a home loan because

My wife has bad credit.The loan officer

Said that alone I qualifiy for 150000 dollars but

Because we live I acommunity property state

State together we don,t quailify

What can we do?

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  • HadIt.com Elder

Check into Owner Financing. Many folks will do this on a 10 year balloon note with a slightly higher interest rate so they are willing to do so since the Rates are so low.

J

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My wife and I bought our first house kind of like that. He held the note, we got the deed, we did a three year balloon where we paid his note, plus a little, and in two years we refinanced out of it and got it all in our name. That was there was full credit for payments made up to that point from us.

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  • HadIt.com Elder

I assume that was for a normal bank loan. You may be able to get a VA direct loan.

Today I was denied a home loan because

My wife has bad credit.The loan officer

Said that alone I qualifiy for 150000 dollars but

Because we live I acommunity property state

State together we don,t quailify

What can we do?

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