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Mach1mustang85

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First Time Home Buyer Need Help!?!?
My wife and I are looking to buying a house in Kansas. My credit score is in the 615 range and her's is in the 725 range. Currently she is a stay at home babysitter going on 1 1/2 years and I am a manager in the retail business. However when we went to apply for a home loan through our bank we were told they could not apply my wife's credit only mine since she babysits. Is there any ways around this and what's the best route to go? Thanks,

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unfortunately not because babysitting isn't a real job....which puts you in a bind because your credit score sucks can' even go FHA with a 615....your best bet is to save up cash so that you can put 20% down also I suggest purchasing less house then you can afford ....ie: you bring in 40K you can afford 160k house (while her credit score won't count the 5k-7K she brings in will count) also your debt to income ratio shouldn't be above 30% (since your score is weak) so if you bring home $3,300/month your bills shouldn't add up to more then $1,100 (this includes cable,electricity,water,phone, car, insurance, groccerys, cell phone....everything) 

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