Likelyhood of getting approved?

Amber · Joined: 23 Apr 2009 Posts: 1 Location: Missouri

My fiance and I are looking at a house. We have to use his name only on the loan application because I am still in med-school and therefore not making any money. He has good credit, not sure what the score is but he was able to get an auto loan for his truck on his own without a co-signer two years ago. He has always pain on time. His credit cards are never late if he ever has anything to pay on it, he doesn't use it often. He makes about $27,000 a year. So what do you think the chances are that he will be approved? Thank you in advance for your help.

jimb12345 · Joined: 24 Jun 2009 Posts: 55

he will definitely get approved. But he will not approved for a large amount. So i would not be looking expensive houses.

EricJ · Joined: 09 Jan 2009 Posts: 321 Location: New Jersey

It depends on the size of his car payment and the taxes on the property you are going to purchase. Either way, you are looking at less than $100k

David · Joined: 19 May 2004 Posts: 754 Location: Atlanta, GA

And information is power. Why wait to find out?
Go ahead and see what he can get approved for and then you can decide if it is better to get a loan now, or wait for a bit longer, such as after you finish school.