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I Purchased my first home at 20 yrs. old and 5 years later I decided to relocate. So I let my mom move into the home and continue to pay the mortgage. Well, I found out she had a lot of late payments. This brought my credit scores down to around a 570 middle value. My wife’s scores are around 670. As things stand right now our credit cards are all below 20%. All my collection accounts are paid, all accounts are recent with the last late being 1 year 4 months ago. Our debit to income is, we gross around $9k ($6.4k after taxes) a month joint and all living expenses and bills add up to round $2200.*
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We are looking to get approval for a new home purchase but Im unsure if it will be possible with my credit scores. I account for 70% of the income so I have to be on the loan. Is waiting the only way we can achieve this, or does anyone know of any programs or lenders that could possibly get us approved.*
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btw we are in Georgia
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