I think they look at both...maybe not the average, but they consider both
Thanks. My cousin is trying to figure out if she should apply for a mortgage on her own to get a better loan / rate or if her husband's credit, as bad as it is, would help them getting a larger mortgage just because it's then being paid by two people in the eyes of the lender, not just one....
I was wondering the same. I have pretty good credit, but FH isnt so great.
wow good question! FH is always worried about this cuz my credit is UMMM lets say not so great i have built it back up some but it`s still not great. I always thought once you were married you had to apply in both names???
Posted by dangell427
wow good question! FH is always worried about this cuz my credit is UMMM lets say not so great i have built it back up some but it`s still not great. I always thought once you were married you had to apply in both names???
Posted by JBoothIn2008
Posted by dangell427
wow good question! FH is always worried about this cuz my credit is UMMM lets say not so great i have built it back up some but it`s still not great. I always thought once you were married you had to apply in both names???
I don't think so... if you want something to be in your name, like a house, you totally can. Lots of times I think people do this if one person has tax issues, etc, so the house cannot be taken from them .. kwim?
I do this for a living, they will go off the person with the lower credit. hope this helps.
I do believe they look at both, so if one person has horrible credit then their name shouldn't be on it. But if you'll get more money or not, Im' not sure.
the person with the good credit should apply for the mortgage and both can be in the title of the house.
they look at both...your better off using the name of the person with better credit for the loan..sometimes if one of your scores is not so good, they will not approve you for a loan..especially now! they are buckling down..with all the foreclosures and all...luckily me and fh both have great credit..so we were able to get a loan with no problem, with less money down and with a great interest rate
sorry to disappoint, but they go with the person with the lower credit. whoever has the higher credit should go in alone for the loan to get a better rate.
i just bought a house with my fiancee july 2007 they checked both of our credit. ours were really good,but if one of u has 760 and the other has 530 the person with the lower credit score will hurt the mortgage rate. make sure your credit it 660 or higher. your credit score has alot to do with the mortgage. so does how much u put down.those are the two biggest things. and also both of your incomes and how much debt do u have. they judge u by a debt ratio.
thanks everyone!
