Posted on: 29th Mar, 2009 01:03 pm
My wife qualified for a USDA loan. The lender says we can put the mortgage in her name and then have both of our names on the title of the house.
My question is: Is this even possible/legal? Will the USDA look at my income also since they say "household"?
Thanks for your help
My question is: Is this even possible/legal? Will the USDA look at my income also since they say "household"?
Thanks for your help
Hi Neil!
Welcome to forums!
Yes, your wife's name can be on the mortgage deed whereas both of you can have your names on the property deed. As your name is not on the mortgage, the lender would not check your income.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Yes, your wife's name can be on the mortgage deed whereas both of you can have your names on the property deed. As your name is not on the mortgage, the lender would not check your income.
Feel free to ask if you have further queries.
Sussane
I agree it's perfectly legal.
Good to know. I just didn't know if the "USDA" verified household income. I don't want to get to closing and then find out we can't get the loan.