My wife and I want to be in the market for home of our own that is priced no higher than $125,000. Her credit score is very high, and mine would have to go up 100 points just to be bad. She just began her new career as a registered nurse, and I am a retail manager. (For the record, I do a much better job of managing my department than I do my personal finances.) Between the two of us, we make more than enough to pay a mortgage payment. The issue is, I want to keep our finances separate, with no accounts of any sort being held jointly, because I do not want my score dragging hers down. I told her that unless we approach a lender with a sizable down payment, it's unlikely anyone will want to offer us a loan that doesn't come with an astronomical interest rate. Right now I have $3000 on hand for a down payment, but that isn't going to cut it. Any advice would be greatly appreciated.
Read more: My wife's credit is great and mine is horrible. How do we qualify for a mortgage?
