If you plan to keep your present home while attempting to buy another - you will need to qualify for both house payments (and no credit for rent income on your present home); and you will need to have 3-6 month's PITI for both homes in savings. If you can qualify under these conditions your rate could be higher due to risk-based pricing for FNMA or FHLMC pools.
Feel free to e-mail or call me for additional information.
Yes they will because they will ask for the credit report of the non-purchasing spouse and it will be on there. Even if they are not using their credit or income, the credit report will be pulled for the exact reason of ascertaining debt.
Lenders are very sensitive to this aspect of the financing and if you do not disclose the mortgage payment of the other home, and the pull a search with his name on title of your current home it can cause issues with you closing your loan.
Tripoint Mortgage Group, inc.