(Closed) Everything might be ruined…

posted 5 years ago in Emotional
Post # 3
7651 posts
Bumble Beekeeper
  • Wedding: July 2012

I am very sorry for the issues, but why can’t you live in an apt or condo and still get married? You don’t need a house in order to do all these things.

I am curious as to why you think your credit will be ruined forever too. You’re very stressed out and in the moment. There will be a way out once you guys get clear heads and everything will work out. Keep your chin up ๐Ÿ™‚

Post # 4
1420 posts
Bumble bee
  • Wedding: September 2014 - Turf Valley

Why would your credit be ruined if your mortgage loan was declined?

Buying a home isn’t the only way you can be together.  What about renting an apartment, townhome, or home? 

Post # 5
2759 posts
Sugar bee

I’m sorry, this must be so stressful. But as a PP mentioned, why not rent an apartment (or a house, depending on your area you can probably find a nice home for rent at a decent price) and go through with your planned engagement/marriage while working to bulk up your credit for a mortgage approval down the road?

Post # 7
9142 posts
Buzzing Beekeeper
  • Wedding: November 2013 - St. Augustine Beach, FL

Whoa.  It doesn’t mean you won’t ever get a mortgage, it just means you won’t get this one.

Also, owning a house is not a requirement for getting married.  Most people get married while not owning a house.


P.S. It’s better to buy a house after you are married anyway.  Married couples get better rates and you automatically get right of survivorship without additional changes to the mortgage and title.

Post # 9
2376 posts
Buzzing bee
  • Wedding: June 2014

Being declined for a mortgage does NOT ruin your credit.  The only impact that it has on your credit is that it will show that there was an inquiry.  Inquiries are normal, in fact there has to be an inquiry in order to be approved.  It’s only a concern if there are several of them in a short time span, which can indicate that you’re trying to get as much credit as possible.  I don’t know who told you that it takes 3-5 years after a decline to be considered again, but they’re flat out WRONG.  Do your research. 

Post # 10
3778 posts
Honey bee
  • Wedding: October 2013

I’m 26 and FH is 27 and we live together with my parents. It allows us to save money for a down payment for a house.

Post # 12
4803 posts
Honey bee
  • Wedding: September 2011

I’m confused too – how does having a loan declined affect your credit? I mean, yeah it will show that you had an inquiry – but the results of that inquiry shouldn’t hurt your credit score. Who is telling you it will affect your credit this way, because it sounds like misinformation to me. And what was it that you tweaked that caused them to change their mind about the approval? Your realtor should be able to answer these questions and help you through this stuff, but I’m just curious becaus eit sounds very strange to me.

Post # 13
1420 posts
Bumble bee
  • Wedding: September 2014 - Turf Valley

@TopazTurtle:  I don’t know where you heard 3 – 5 years.  Just because you didn’t qualify for THIS mortgage doesn’t mean you have to wait any predetermined period of time before reapplying. 

My Fiance and I are renting my parent’s basement apartment and will be married, living in their basement apartment, for a tleast a year before we can afford to move out.  It’s not that big of a deal.  You should either consider that, or really consider renting.  Also, if you can’t save ANY money while renting, you probably should reconsider purchasing a house in the first place.  They are a lot more financial responsibility than renting.

Post # 14
12023 posts
Sugar Beekeeper
  • Wedding: May 2014

i worked at a bank for several years, a mortgage decline DOES NOT ruin your credit at all.  It’s simply a decline for THIS house and THIS mortgage, look for a different house.  Lots of couples don’t live together as soon as they’re engaged.  I have friends who bought a house and didn’t move in until after they were married.  Lots of people live apart until the wedding.


don’t let this ruin everything, it’s a small hiccup, you’ll get throgh it!

Post # 15
1420 posts
Bumble bee
  • Wedding: September 2014 - Turf Valley

@TopazTurtle:  Are you fixing the issues causing the rejections? 

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