Home Buying in 60643>Question Details

Kristina, Home Buyer in Chicago, IL

I read somewhere that if you're married and 1 person has excellent credit while the other is so-so, you can

Asked by Kristina, Chicago, IL Mon Mar 30, 2009

take the mortgage out under the person with the excellent credit score and add the spouse's income as additional income in order to qualify for a larger loan. Does the same rule apply if you're unmarried and buying a home?

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Answers

4
Hi Kristina,

In my experience I have found that the lender will take the middle score of the person with the best credit scores. It's the same if married or not.
1 vote Thank Flag Link Mon Mar 30, 2009
With divorce rates at 50% for first time marriages and 75% for second time marriages, lendors sure do have a problem on their hands.
0 votes Thank Flag Link Sun May 1, 2011
Kristina,
The lenders can not discriminate or favor if you are married or not, familial status is a protected class.
0 votes Thank Flag Link Mon Sep 13, 2010
Hi Kristina, There are many factors in qualifying for a loan a you may know. I've worked with a few lenders whom has used the spouses income. Also with the mortgage world constantly changing and improving, I will suggest you speak with a lender, banker or mortgage broker.
0 votes Thank Flag Link Sun Sep 12, 2010
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