Mortgage question

Is there a way to use my DH income, but not his credit to get a mortgage? His credit isn't that great, we are fixing it, but I fell in love with a house and want to see if there is anything at all I can do now?

Thanks!

Re: Mortgage question

I wouldn't think so... sorry.

Re: Mortgage question

I didn't think so either, just thought I would ask :)

Thank you!

Re: Mortgage question

No, if you need his income to qualify for a mortgage (or to qualify to get a loan for a home in a certain price point), he will need to be able to qualify for the loan to (and that means meet the minimum credit criteria).

But have you spoken to a mortgage professional to see if he would qualify as is, or how far his score needs to come up? Sometimes people assume that the criteria is more stringent than it is. But you may be surprised, esp. if you are going for an FHA loan. Let me know if you need the name of a good mortgage loan officer.

Also, I know you said you are in the process of fixing his credit, but are you working with a professional, or just doing it on your own. The mortgage professional I recommend often refers people to a credit repair service. I know people are wary of using this type of service, but this one is reputable and gets good results. Some of my buyers have gone this route and had great success within a matter of 2-3 months (scores went up from mid 500s to mid 700s. (Obviously, it depends on the type of credit issues and how extensive they are... it could take a lot longer to see an improvement). But if you are anxious to buy, it may be worth exploring.