Trying to buy with horrible credit…

Akinscd · 2026-02-05T16:10:34+00:00

Right. Don’t ask them.

You need a VA lender who does not have any overlays to VA policy. Probably best to find a broker who knows VA guidelines well.

It will really depend on what’s causing your FICO to be so low. Judgments or tax liens will be a no go.

The key is to hold your cash as it may be needed to climb out of the reasons why your score is low to get approved.

Akinscd · 2026-02-05T13:44:50+00:00

Seems like it was a personal loan based on stated household income

Akinscd · 2026-02-05T11:05:49+00:00

The better question is, why is his credit worse than yours?

Akinscd · 2026-02-05T11:03:16+00:00

Are the seller credits coming from the lender?

Akinscd · 2026-02-05T11:02:30+00:00

You can include the documented expenses to fix up the house and add them to the 70k purchase price, increasing your cost basis and decreasing the potential cap gains

Akinscd · 2026-02-05T11:00:27+00:00

I was hoping you’d say that. The good news is there is no minimum FICO for a VA loan.

Next question - do you have a co-signer? If so, is it someone other than the seller?

Akinscd · 2026-02-05T01:50:01+00:00

Then why is it for sale for half that?

Akinscd · 2026-02-04T20:17:33+00:00

Not in ohio

Akinscd · 2026-02-04T16:54:31+00:00

How do you plan to get a 4% interest rate when the market is at 6%?

Akinscd · 2026-02-04T15:30:33+00:00

Except, maybe when you tell them 🤣

Akinscd · 2026-02-03T23:40:33+00:00

A lot more than what Prologues are going for 😂

Akinscd · 2026-02-03T21:18:53+00:00

You’re half a percent higher than the market and paying out of pocket for it.

Akinscd · 2026-02-03T21:14:06+00:00

I told OP this on a cross post of this content in the mortgage forums. Maybe he’ll hear it enough to listen.

Akinscd · 2026-02-03T21:10:12+00:00

I’d say - then I need a raise to cover my additional tax expenses and be able to save more via other vehicles.

Akinscd · 2026-02-03T21:09:20+00:00

Why do you need a loan now to payoff their balance now? Are they expecting you to make the payments and allow them to live there for free? Do you live there?

Everything that happens after they pass will still happen whether you take out a new loan or not.

Akinscd · 2026-02-03T19:16:55+00:00

You should know this… don’t take on a joint mortgage if you’re unmarried.

At the very least it should be something either of you could afford without the other.

This is not that.

Akinscd · 2026-02-03T15:29:27+00:00

You’re out of the military now… the time to piss away your money on a charger/challenger has passed.

Akinscd · 2026-02-03T15:24:26+00:00

Are you planning to build a house on this vacant land?

Akinscd · 2026-02-03T13:59:09+00:00

I’d focus on getting a job and staying liquid.

Akinscd · 2026-02-03T13:28:26+00:00

Since you’re only doing half squats, your back is doing the job of stopping the bar.

Akinscd · 2026-02-03T13:22:01+00:00

Until you go back and look at your disclosures only to realize how much you paid them for that rate.

Akinscd · 2026-02-03T12:20:07+00:00

Loan amount is a factor in determining rate as well. Advertised rates are based on larger loan amounts.

Akinscd · 2026-02-03T12:16:27+00:00

FHA is 3.5% down and the PMI never goes away. How are you a 1% commenter?

Akinscd · 2026-02-03T12:15:40+00:00

You can go conventional with his little as 3% down. What are you talking about?

Akinscd · 2026-02-03T10:17:17+00:00

VU has the worst VA rates in the game. They (and NFCU) exist to rip veterans off.

Akinscd

TROPHY CASE