Home Buying in 76063>Question Details

Shawana M, Home Buyer in Mansfield, TX

Can i purchase a home without my spouse?

Asked by Shawana M, Mansfield, TX Thu Apr 24, 2014

My husband is on the low end of the scale. I am a first-time home buyer and I would only have my name on the loan. Due to these circumstances, can I purchase a home without him on the actual deed of the house? Does he need to sign something? Will his low score and high debt affect my chances of getting approved for an FHA loan? Being in Texas, how will this play into my situation?

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4
You can purchase the home based on your credit and income however, your spouse will be on the deed as a non-contributing spouse. With the lender that I use your husbands score or debt will not effect you at all.
1 vote Thank Flag Link Sat Nov 8, 2014
Does this mean that he will be on the deed? I only want to be on the deed - please let me know. In addition, this would mean I would only qualify for a conventional loan correct?
Flag Sat May 21, 2016
Yes, you can purchase a property without your spouse. However, the loan program will dictate if you must qualify with his debt or not.

For example, if you choose FHA financing, you must qualify with his debt. This is because Texas is a community property state. However, any debt that he acquired before your marriage can be excluded.

For conventional financing, his credit or debt would never come into play.

There are many caveats to financing, please call me so we can discuss yoru situation.

Vino Alonzo, Loan Officer
NMLS# 184279
First Cal Mortgage
210-685-7642
valonzo@firstcaltexas.net
0 votes Thank Flag Link Tue May 6, 2014
His credit and debt will not affect your loan if it is only in your name however Texas is a community property state, which means that most property acquired during marriage belongs to both spouses and must be divided if they are divorced.
0 votes Thank Flag Link Tue May 6, 2014
As long as you qualify by yourself, you can do everything in your own name and his credit will not come into play.
0 votes Thank Flag Link Thu Apr 24, 2014
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