Qualify as a first time buyer???

**jnzy111** · 04-10-2009, 10:47 AM

My Girlfriend wants to buy a house and should qualify as a first time buyer and get some of the new benefits.

The problem is that her credit is not good at all and for her to qualify I would have to be on the loan but since I already own, I would not qualify.

Would this then disqualify her as a first time buyer?

If this is in the wrong forum, I apologize...

Thanks!

**Dalton** · 04-15-2009, 06:44 AM

shouldnt it be .. that the payment is particular in the payments?

HELLO FROM MIAMI...!!!

**jnzy111** · 04-15-2009, 12:45 PM

Originally Posted by william.jack38

NO help buddy. By the way, why your girlfriends credit is not good, has she ever before apply for the loan or this is first time.

She did try to prequalify and they basically told her that they couldnt prequal her due to her credit.

**jnzy111** · 04-15-2009, 12:46 PM

Originally Posted by Dalton

shouldnt it be .. that the payment is particular in the payments?

HELLO FROM MIAMI...!!!

Whoa i'm confused ...

**HopefulHomeOwner** · 04-15-2009, 04:00 PM

If you're co-signing she should still qualify, but unless you're prepared to make the payments just in case she defaults, don't do it dude

**Thesa** · 04-15-2009, 11:58 PM

Before you go on a 30 YEAR MORTGAGE with a girlfriend you might want to consider a couple things.... can you afford the payment if she can not... and is your relationship headed long term - to want a 30 YEAR Commitment.... have you seen that commercial about living in the basement of your parents home because your girlfriend had bad credit.... you might want to really think about this before doing it.

**Dalton** · 04-19-2009, 06:42 AM

sorry wrong typo... i meant it should be for the payer...

**jamesww** · 04-20-2009, 12:39 AM

If her credit falls between 580 and 620 she can get a prequal with about 120 days worth of credit repair. The thing is she will need to find a good company if you need a referral let me know. If her credit falls below 580 she will likely need 6 months or more to fix her credit. Don't co-sign for her it just does not make good sense. And she can not be on title without being on the loan therefore your purchasing it for her would not work. I think the best bet would be for you to have her get her credit repaired and make the purchase on her own. Taking the lead will be just as much help as co-signing without all the problems that can arise later.

**thomas12** · 04-20-2009, 12:59 AM

As a first time buyer; you really get some of the new benefits. Getting credit really has become very difficult these days.

**Vegasloanlady** · 04-24-2009, 11:14 PM

I would recommend that she rebuilds her credit and buys the home in her own name. I have seen too many bf/gf relationship ruin because of the stress of home ownership. It would not take long for her to rebuild her credit score. I did it on my husbad credit and it went from 520-700 in about 4 months. Here is a blog post I wrote on getting your credit repair for free . If you need any more help on that matter please PM me. I don't charge for helping people.