Posted on: 17th Apr, 2008 01:59 pm
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.
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.
Hi jtoevs,
I have tried to answer your questions at http://www.mortgagefit.com/firsttimebuyer/spouseincome-credit.html#49574
Please have a look at it.
Feel free to ask if you have any further questions.
I have tried to answer your questions at http://www.mortgagefit.com/firsttimebuyer/spouseincome-credit.html#49574
Please have a look at it.
Feel free to ask if you have any further questions.
I DOUBT THEY WOULD USE ONE AND NOT THE OTHER. iTS IS ONLY A 10K DIFFERENCE SO IT MAY NOT EVEN MAKE A DIFFERENCE.
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.
I never knew they took the highest one. You must know alot about loans...