I am rebuilding my unpromising credit, my wife have great credit. Will we bring back a mortgage?
Answers:
there are ways....my husband and i are in one and the same situation..except my credit is good not great. We got approved w a great low rate. They did it by using my credit solitary. Even though he maked the income...somehow it worked out. Bank of America is fabulous!
u should not try for mortgage! look for more income generation.......may be stock market!.....in that is no logic giving money or assets to others........it is always better u generate more money for u from whatever money or asset you own! if i were in your position......i would enjoy done this.
Yes, as long as you have the income to back it up. Since your credit is so low, I would suggest you ask the mortgage borker to run the numbers for a combined mortgage and than just a mortgage in your wife's designation. At this point, it may be very beneficial just to do it surrounded by your wife's name, than a few years down the road refinance with both your name on the mortgage.
Like the other responses listed, I agree that you should apply with a reciprocated and with an individual applicant, to see which will give you the best agreement. Also, keep in mind that if your credit improve (which it likely will if you make your payments), you might be capable of refinance for a lower rate later.
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