spouse's credit and both incomes for mortgage

Guest 0.10 Dollars($)

Hi,

My credit score is poor but my wife's is over 600. Can we use only her credit score and both of our incomes to secure a mortgage?

Guest 0.10 Dollars($)

No that's not possible. If she alone qualifies for the mortgage with her income then take it in her name.

jameshogg · Posted: Tue Jul 18, 2006 5:18 pm Post subject:

Hi,

Lenders won't take one spouse's score and both the incomes to qualify for a mortgage loan. Instead, your wife can go for stated income loan. The interest rate will be a little higher compared to a conventional loan. But in your situation you can think of it.

James

All times are GMT - 7 Hours

Page 1 of 1