buy a house Q

ambrvan

Will XP on the nest Buying a House board later.

We talked to a message broker today, abd he said he can approve us for a Rural Development loan if we can put both cars solely in my name. One is currently in H's and one is in both our names. I think the first week have no problem helping us out in the situation. The second I'm not so sure about.

Anyway, do you think this is even a good idea? Our should we wait until my credit had improved enough to qualify? I have lots of student loans in my name so I have more debt against me than he does new that we have paid so much other stuff off.

freeatlast2014

From what I know, it is very difficult to refinance an auto loan. If your credit isn't great, you are going to pay through the roof. 

You could always apply and see what the rate/payment would be (if you even got approved) in just your name alone and then make a decision from there.

ambrvan

It's weird because it was my credit that got us approved for the auto loan on the car (the vehicle with both our names on it) in the first place and it has the lower interest rate. But apparently the scores they took to try to approve us for a mortgage were drastically different. And I know all three bureaus can show drastically different scores, but I seriously pulled all of our reports and scores in August and then again in February and his has improved immensely just since beginning of February while mine has stayed about the same. Why must credit be so dang weird?

After talking to H about it, we've decided the worst that can happen is that we can't move the auto loans out of my name and have to wait a little longer. Can't get worse, only better or stay the same. So as you said, we'll just try and see what happens.