In today’s world, I often get questioned about someone with a good FICO score wanting to buy with someone who has a bad FICO score. Question: “Can we buy together?” Answer: That depends. (Are you picking up on a trend here?)
See, everyone’s credit, debt, income, expenditures, etc. are different so I can’t defiantly say ‘yes’ or ‘no’ but I’ll tell you who can. One of my fabulous Lenders on my Affiliate List. I’d love to give you a resounding “YES!” but that might not be the case.
More likely than not, there are 3 situations that can occur:
- Both GF (Good FICO) and BF (Bad FICO) can qualify for the loan and will both be on Title.
- GF qualifies for the property by themselves and we can add BF to Title just after we Close Escrow.
- Unfortunately, GF is good but not good enough to carry BF. What does this option really mean? That Your Lender and I will help you devise a plan to get you to a place where you can qualify.
Easiest way to figure it out, is to talk to a Lender. If the sound of this makes you a bit uneasy, I’d be happy to sit down with you, too. I’ve done it many times and will do it a few million more, I’m sure.
Should you have any questions about anything you’ve read here, please feel free to call your favorite REALTOR, Melissa Krchnak 
