How mortgage companies look at credit for couples?
my wifes credit is good mines not how will they look at that.
Answers:
different companies go by different things. so companies will jump by the person who makes the most money and so will run buy the person credit score explicitly the highest. different lenders look at in different ways. i'm a loan officer. shot me an email i I don`t know able to help depending on what state you live contained by. Source(s): cfglending.com Springfield Branch
If you both apply, they look at both of you.
If you have bad credit, you wife may entail to get the mortgage herself. It's worth trying with both of you, though. Then compare the interest rate near what it could be if she applied on her own.
Of course, when she's on her own, only her income and assets can be used to qualify, so the loan amount may be lower.
Well I'm not yet married, but will soon be buying my first home. Anyway, my fiance and I be going apply for a mortgage together. However his credit isn't all that great. I was approved base on mine though, so we are just going to put it in my heading until we are married.
More offen then not they will average them. Unless you wife has much superior income then you. Then perhaps they can be paid her the lead signer and put your name on the house and not the morgage. But more habitually then not they will have to average the score to get your credit score.
I own heard that banks will sometimes put more beat on the higher score if its a "close all". Meaning that if your combined mark falls just a little short next might make an exception if your wife has enormously good credit.
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Answers:
different companies go by different things. so companies will jump by the person who makes the most money and so will run buy the person credit score explicitly the highest. different lenders look at in different ways. i'm a loan officer. shot me an email i I don`t know able to help depending on what state you live contained by. Source(s): cfglending.com Springfield Branch
If you both apply, they look at both of you.
If you have bad credit, you wife may entail to get the mortgage herself. It's worth trying with both of you, though. Then compare the interest rate near what it could be if she applied on her own.
Of course, when she's on her own, only her income and assets can be used to qualify, so the loan amount may be lower.
Well I'm not yet married, but will soon be buying my first home. Anyway, my fiance and I be going apply for a mortgage together. However his credit isn't all that great. I was approved base on mine though, so we are just going to put it in my heading until we are married.
More offen then not they will average them. Unless you wife has much superior income then you. Then perhaps they can be paid her the lead signer and put your name on the house and not the morgage. But more habitually then not they will have to average the score to get your credit score.
I own heard that banks will sometimes put more beat on the higher score if its a "close all". Meaning that if your combined mark falls just a little short next might make an exception if your wife has enormously good credit.
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