Can my wife state my income to get a home loan?

jtoevs · Joined: 17 Apr 2008 Posts: 2 2.08 Dollars($)

Probably a simple question but I haven't heard a solid answer, so here it goes.

I have really bad credit....really bad. My wife's, however, is good, about 700. She makes alone about $45k/year. Together, we make $85k/year. Can my wife apply for a mortgage loan and use my income but not my credit score? If so, what kind of mortgage loan is it? And she would be a 1st time home buyer, if that makes any difference.

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi jtoevs,

I have tried to answer your questions at http://www.mortgagefit.com/firsttimebuyer/spouseincome-credit.html#495 74
Please have a look at it.

Feel free to ask if you have any further questions.

fireyone_02 · Joined: 20 Mar 2008 Posts: 281 2.17 Dollars($)

I DOUBT THEY WOULD USE ONE AND NOT THE OTHER. iTS IS ONLY A 10K DIFFERENCE SO IT MAY NOT EVEN MAKE A DIFFERENCE.

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

They looked at both of our scores and took the highest one into consideration, so I do think this is possible, you can always give it a shot, all they can say is no, but I think that you will be ok.

fireyone_02 · Joined: 20 Mar 2008 Posts: 281 2.17 Dollars($)

I never knew they took the highest one. You must know alot about loans...

All times are GMT - 7 Hours

Page 1 of 1