Financing in 92139>Question Details

Titaandbebe, Home Buyer in 92139

which credit score is taken into consideration when applying for a home loan when both you and you spouse apply for a home loan? or is there a combo?

Asked by Titaandbebe, 92139 Tue Nov 8, 2011

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Its always the lower of the two middle scores... For example:

Her: 700 720 725
Him: 750 712 698

Her middle score would be 720; His would be 712. The lower of the two would be the Fico used. So in this case, it would be 712.

If you NEEDED a 720 to qualify, the only way to do so is take him off of the loan and qualify with only HER income, OR, do a quick rescore of his credit.

Daniel Lehman
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0 votes Thank Flag Link Tue Nov 8, 2011
50% of ALL potential home buyers have a FICO under 620. FHA only requires 580, yet NOT ONE SINGLE lender will do an FHA w/o overlays. Next Crash coming...
Flag Wed Nov 27, 2013
One would think with the market and empty homes, stacks of foreclosure papers on their desks,.. they'd use the higher of the two middle score, or at the very least combine them. Unless/until the pendulum swings, or at least begins to,... the market shall continue to slide, especially in the under $100,000 zone. 2 Much GREED
Flag Wed Nov 27, 2013
It's typically the lowest of the two middle scores. For example:

Wife has scores of 700 699 680
Husband has scores of 740 720 700

The qualifying score will be 699.. The optimal score you want to have for the best possible rate is a 740. There is no benefit for a score higher then a 740.

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4 votes Thank Flag Link Wed Dec 28, 2011

I am referring to how credit scores are evaluated for loans sold to Fannie Mae & Freddie Mac since these are the vast majority of all loans originated. The number of super jumbo loans originated is so small in comparison to $417,000 or $529,000 conforming loans limits depending on the county you’re in. If my advice applies to 90% of the readers that’s what I am going to state. Do I need disclaimers and what if scenarios too? The average price of a home is well under $200,000 in most markets, so again Super Jumbo underwriting guidelines don’t apply to most of us. If you read the question instead of being smarty pants she is referring a FHA loan. DO you really think she is referring to a Super Jumbo loan? How many super jumbo loans apply to FHA? Absolutely zero. We can split hairs if you want, but come on the credit score rules I described apply to the vast majority of home owners not the very few Jumbo loan seekers.

Happy Funding!!
1 vote Thank Flag Link Wed Dec 28, 2011
The lender is going to check both credit scores:

Husband : 720 -700- 680

Wife: 670 - 650 -620.

The bank will use the 700 score from the husband and the 650 from the wife. Based on those scores it will check your loan eligibility and sometimes even the interest rate. However the 650 from the wife will be the score that dictates.
1 vote Thank Flag Link Tue Nov 8, 2011
Andrew- You deleted your original comments. That is a functionality Zillow does not provide. On Zillow, after click on submit, it remains on the Internet for eternity.

"Typical" is appropriate. Also, I mentioned super jumbo loans. Many LOs that only originate government loans and government backed loans consider super conforming loans as a "jumbo loan," because it is over the $417,000 conforming limit, which is not the case.

Any loan amount over $625,500 on a SFR, which is the maximum county limit for super conforming loans, is a non-conforming loan. On non-conforming loans a 760 & 780 FICO score would also apply as optimum scores. Not as you previously stated as 740 being the ultimate score.

Most every conforming lender that offers super conforming loans, also offers non-conforming loans, typically up to $2,000,000. You may wish to price a loan for $650,000 to see the difference in risk-based pricing adjustments from one of your approved broker rate sheets between 740, 760 and 780 FICO scores. .... Best wishes.

Happy funding, Rudi
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0 votes Thank Flag Link Wed Dec 28, 2011
My wife and I just applied for a loan and they used my middle score since it was the lower of the two. Not sure what Rudi is referring too. If I want to borrower a million dollars maybe his way is how it’s done.
0 votes Thank Flag Link Wed Dec 28, 2011
Andrew, I am so use to being able to edit my responses on Zillow, I forgot Trulia does not provide that functionality.

PS: You apparently do not originate super jumbo loans either. There is a benefit, for 760 & 780 FICO scores. The optimum score is 780, not 740.

Happy funding, Rudi
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0 votes Thank Flag Link Wed Dec 28, 2011
Andrew- It is not "always." Some lenders may use the lowest score and others may use the blended score of all borrowers. Not every lender uses the lowest middle score of all borrowers.

Apparently, you only originate loans for lenders that sell their loans to be securitized as a mortgage backed security. ... My grandfather taught me at an early age to not ever say "always" or "never." Those two words may come back to "bite" you. .... Best wishes.

Happy funding, Rudi
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0 votes Thank Flag Link Wed Dec 28, 2011
Usually it is the lowest middle score of all borrowers.

Happy funding, Rudi
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0 votes Thank Flag Link Wed Nov 16, 2011
They look at both scores.

Marco Gomez
NYS Associate Broker
Keller Williams Landmark II
Serving Queens, Brooklyn & Nassau
0 votes Thank Flag Link Tue Nov 15, 2011
Rosina below is correct. Are you worried about your scores? With a government insured mortgage i.e. FHA, VA or USDA, your credit does not have to be perfect. If your credit scores are below 600 and you do have time before taking the leap into homeownership, I would take at least 30 days or so and take some pretty simple steps to insure you get the best available rates available for your overall credit application. Please feel free to contact me if you have any questions regarding your situation.

Best of Luck!
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0 votes Thank Flag Link Thu Nov 10, 2011
This question implies concern about your scores, there is a lot of that going around these days, be sure to read the info on my blog linked below, it may keep you out of harm’s way, good luck,
0 votes Thank Flag Link Wed Nov 9, 2011
Both of your scores will be looked at and used in making a decision.
0 votes Thank Flag Link Wed Nov 9, 2011
Lenders will apply the lower of the two.

But sometimes we can take the low credit score borrower off the loan, and put them on title only, if the good credit score borrower can qualify with enough income by themselves, then we can give you the better rate.

If not we can go down to a 500 credit score, so we can still do the loan. The rate is a little bit higher, if the credit score is lower, but it is still pretty good.

Feel free to contact me if you would like more information.
0 votes Thank Flag Link Wed Nov 9, 2011
Good evening Titaandbebe,

If you are both qualifying on the mortgage loan then Lenders will use the middle score (of three) for both loanapplicatns and the LOWEST scoring applicant to determine qualification. There is no combo.

Get a referral to a Local Mortgage Banker. Mortgage Bankers in your community will provide you with a much higher quality of service and financing options than any "Big Bank." Local Mortgage Bankers have long been the source of excellent financing options for homebuyers. Further, Loan Originators who work at Mortgage Banks are LICENSED whereas Loan Originators who work for the "Big Banks" are only REGISTERED. There's a BIG difference.

Sit down face to face with your Mortgage Banker to be thoroughly prequalified. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Consumers have been led to believe---thanks to huge advertising budgets with the BIG BANKS---that they should go to their bank for a mortgage loan. This is the WORST place to get assistance with the BIGGEST PURCHASE of your life! These BIG BANKS are basically BIG CORPORATIONS. You're a number, at best. With a Local Mortgage Banker you will be treated like a friend and a client for life. You can't imagine the high quality of personalized service you will receive from a Mortgage Banker until you try.

As to price---rate and fees---competitive if not better than the BIG BANKS.

You can verify the License of any Licensed Mortgage Loan Originator at

Trevor Curran
NMLS #40140
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0 votes Thank Flag Link Tue Nov 8, 2011

The lowest middle score, as mentioned below. The short video below talks about all things related to credit scores and mortgages and I hope it helps you further.

Rob Spinosa
0 votes Thank Flag Link Tue Nov 8, 2011
Sorry to disappoint you but lenders take the middle score of the weakest link. Yours 770 760 750 Hers 800 770 750. Since you are the weakest link, they will take YOUR middle score 760. Hope this helps. Contact Lynn Shuler at Prospect Mortgage for a prequal 760 707-8548. Once you get preapproved, I will help you get the best house and negotiate the best deal for you.
Jessica Nguyen
Keller Williams Realty
12265 El Camino Real #180
San Diego, CA 92130
858 720-1900
0 votes Thank Flag Link Tue Nov 8, 2011
The lowest mid score of the couple.
0 votes Thank Flag Link Tue Nov 8, 2011
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