re: Wife has a credit score of 750 and mine is 710. Can’t get a loan

We were never given a notice by company that had it first saying it was being sold. We were getting mail from new company but thought it was junk mail for the first few months until my wife called and asked why she wasn’t getting a bill or invoice. So it caused us to miss a few payments. Since then we changed it to automatic draft to make sure it’s taken care of. No excuses but that’s what happened. Been good for almost 5 years now

How much did you report on last 2 years tax returns?
Is it salary, hourly, or commission?
How much do you want to borrow?
How much debt do you have?

quote:

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Last two- 250k
Hourly but also sold a company
400k
Wife’s student loan and a vehicle.

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250k combined in two years? Or 250k each year?

Each year.

Then there’s more to the story you’re not telling us. A few late payments several years ago should not disqualify you from being approved for a $400k mortgage with $250k income.

nothing more to the story. Went to a lender and we were fine. The bank they deal with was good to go with loan. More than enough. Last minute bank calls back and says issues with credit report. We find out student loan was the problem. We were to to look into a credit repair company. Thought it would be for a few months. They sent letters to ask for changes. No changes to report. Credit score is fine just flagged student loans. Lender even told us with what we have flagged she finds it was ridiculously a lot of time for what needed to be done. I own my house I am in now plus lot new house will be on. Have money in savings and since the student loan mishap have been great. Maybe I am inpatient but just thought we would be done since we sent letters in July.

South Louisiana. Around Thibodaux

Nothing missing. I have laid everything out there. Our credit scores went up a little in the past 6 months cause I didn’t have a credit card. But my wife’s score was always 730. Went up to 750. The loan rolled have seen everything and they can’t seem to understand why the bank is holding back. Like I said, I am very frustrated. Maybe I am making more out of this than should be.
Like I said my wife’s student loans are all we owe on except her vehicle. Own my current house, property my new house will be on, my truck and have enough money in bank. Could understand their reasoning if we were robbing Peter to pay Paul, but that’s not the case.

Yes. Told the wife that this is what we will probably do in a few weeks.

In 2014 when buying a home with great credit scores, we had to write a letter about one missed student loan payment from around 2006. Since it was only one missed payment around 30 days late it was enough to write the letter explaining what happened. I remember reading if it was a certain amount of days (can’t remember the amount maybe 90 days) late it would have been a bigger deal. This is probably what you are going through unfortunately. Going through this since July is nuts to me though unless you’re not actively persuing a resolution. I suppose since you don’t have many other debts they can only examine the payments on those. I’d call and speak to an underwriter and see what you can do to help before paying off the loan.