If only one spouse will be named on the mortgage...

kpny622 Posted: Apr 27, 2004 02:01 PM

If only one spouse will be named on the mortgage...

then do they need to look at the other spouse's information and credit anyway, just because you are married?

bxgell2 Posted: Apr 27, 2004 04:03 PM

Re: If only one spouse will be named on the mortgage...

FI and I had to do this... I have too much oustanding loan debt from law school to even qualify for the mortgage and our mortgage guy said I would bring us down So, they didn't include me on the mortgage and didn't compute me when considering what he qualified for... we got married about 2 weeks before closing and it still didn't effect his application... so I don't think so.

MrsTC Posted: Apr 27, 2004 04:36 PM

Re: If only one spouse will be named on the mortgage...

well, you would want both spouses income considered as a source of funding - ask the mortgage broker about 'stated income'.

heidla Posted: Apr 27, 2004 05:38 PM

Re: If only one spouse will be named on the mortgage...

For our mortgage we qualified with just FH income, but they did a credit check on both of us.

yabbobay Posted: Apr 28, 2004 07:35 PM

Re: If only one spouse will be named on the mortgage...

we applied without me...b/c I had both car loans, and student loans on my credit...so DH qualified for a great rate and what we needed without me...

they actually had to do special paper work to take me off...so I was not a factor at all...