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I have excellent credit and a qualifying letter for a VA loan on my first home. I make enough income to purchase a home and have been told so. My problem is that everytime I go to a lender, they want my husbands info, although I tell them he has bad credit and I dont want to use his income or his name on the actual loan. Then, after telling me I qualify, then call back and say no because his scores are low and his credit has some late pays. I find this aggrivating, and I am about to give up on ever owning a home in Texas. Is there a way around all this hassle? The only place that was willing to help me out was a mobile home sales place, but they want tons down, and the VA loan cant be used on mobile homes unless they are on permanent foundation. I am so frustrated at this point.

Niicss · Posted: Mon Mar 15, 2010 2:25 am Post subject:

If you do not want your husband's name on the property and the loan and want to qualify for it alone, then you can ask your husband to sign an inter-spousal transfer deed. Thus, your husband won't be able to claim any ownership to the property or the loan. In that case, I guess, you would be able to qualify for a loan.

jburke · Posted: Mon Mar 15, 2010 8:33 am Post subject:

You'll have the same issue in any community property state, the only thing that doesn't make sense is lenders are telling you no due to your husbands scores and late payments on his credit.

The only things a lender should be looking at in this type of scenario are.

1) The current debts. The bad thing about this is your husbands debts will be added to yours and you would have to qualify for the mortgage without including your husband's income.
2) They will check to make sure your husband doesn't have any judgments against him.

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