My fiance credit score is 717. Do we should by a house together, or is better if she buy the house by herself before we got marry?
We already check our credit reports on annualcreditreport.com and everything was right.

We want to buy a condo between 110,000 to 120,000. and we are planning to get assistance of the first home buyers progra in NYC. we only have 5,000 for downpayment and its my girlfriend money. Also she makes more money than I.

It depends on your loan program, how much you are putting down, your ratios, etc.; consult your mortgage broker. The best programs are only going to be avail to those with 720-740+ FICOs. Even if you're married, they may be able to avoid having you on title/loan, to take advantage of better FICO score of fiance.

[iceman]

679 and 717 is good.

You are not in very high bracket though, but still good enough to get solid rates on a mortgage.

679 is at the high end of the average range, and 717 would be considered a good score.

BUT.. remember that credit score is just ONE part of the equation when you get a mortgage. The most important thing is still your income. Having enough income to cover your desired mortgage amounts is what the banks really look for. Even if you have excellent credit the bank is NOT going to thrown more then you can afford at you these days. And vice versa, if you ahve excellent income, you may be able to get a mortgage with not so great credit scores.

679 is in the average range for credit. If you are looking to buy the house and get the best rate then you would want to have your fiance with over 700 do it. Your fiance might even quality for special FHA loans as a first time buyer.

But.....yes I said But! Buying a home has many factors other than score. The individual debt ratio you both have will be a factor, how much and where the down payment is coming from is another factor, stability of income, credit, assets...etc.

You need to look at: Can your fiance come up with the down payment and make the whole payment on the new loan by themself. If not then you will need to do a joint application. My wife and I just went thru the same deal. My score is 728 and her score was 668. We ended up with 6.375%.

Let me know if I can give you additional info!