looking to buy and not married

[Nixer]

My gf and I are hoping to buy a house soon and I am wondering:
I have poor/fair credit, middle is about 600, she is good 700+. Since we are not married I am wondering if anyone knows how it would work out in our situation. Do they take the middle score of both of us? Is my credit going to make it to difficult and we should just wait till I can raise it? I am trying everything I can do to raise it as fast as possible. Many of my baddies are a couple years old, I have 2 judgments against me $500 and $3000, but do have perfect history on all my student loans for 5+ years now. We really want to take advantage of the current situation and get a home ASAP. Any insight would be greatly appreciated.

thanks

[Trish]

I am not too familiar with mortgage loans but I believe you are right in the fact that they will take both of your middle scores.

It also depends on what kind of loan you are going for. It's also definitely a plus that you don't have any recent derogs.

This is just my opinion.......and hopefully others might chime in....
But I don't see the harm in talking to a mortgage consultant and just letting them run the numbers to see what they come up with. Yes, they will pull all 3 of your reports but then they can advise you on what you need to do to get in shape if it's not good enough yet. At least that way you will see if and what you currently qualify for.

Another thing to consider (for a quick bump in score) is to maybe have your gf put you on one or two of her CCs as an authorized user........or maybe a parent....or a close friend. As long as it is a good standing CC with a long history (and preferably a high CL)......it could bring your score up considerably. Just a thought.

[MDI]

It depends on who makes the most money. That is the middle score they will use.

If you make more money, then maybe let her get the loan herself if she can qualify and have your name added to the title of the property.

I would suggest having a legal document drawn up between the both of you to protect you and your girlfriend, in case it does not work out.

[Allstate Credit]

Hello Nixer,

In today's market this type of loan would typically be structured where you would be the primary borrower, and your gf, would be considered an occupying co-borrower. In this case the lower of your two scores would be used to asses your qualification.