Hi,
Am looking for Loan Officer that can advise me a situation:
I have a potential client to sell a house too, but first need a pre-approval
their current situation as follows:
His credit score is 653
He makes about 50K a year
he has been working for 3 years at the same location
Property they are trying to buy is worth around 140K and they would be buying it to 120K.
Her credit score is 550
she makes 23K
she has been working for 3 years at the same location
she owes student loans which defaulted and went to collection. She currently on repayment plan.
Do they both have to be on the loan? Can he take out a loan by himself?
Please advise,
