Home Buying in 29732>Question Details

oneangelsmil…, Home Buyer in Rock Hill, SC

Is there a Home Loan that would combines incomes with someone you aren't legally married to?

Asked by oneangelsmiles, Rock Hill, SC Thu Jun 7, 2012

I want to purchase a home in Rock Hill and have excellent credit but my income is very low and comes from disability. However; my common law husband of 12 years has an excellent income but his credit is ruined from a previous marriage- I mean really ruined and beyond repair. Is it possible to obtain a home loan that would combine my good credit & small income with his excellent income so that I could get a mortgage on a higher priced home? (If a mortgage company looked at just my income alone - it wouldn't amount to a dog house that is falling in). Any suggestions?

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I don't think that is possible. Credit and income go "hand in hand". I can refer you to a mortgage professional if you would like. You can call me: 803-372-2131
0 votes Thank Flag Link Tue Jul 17, 2012
Good Evening OneAngel:
Yes, unrelated people can qualify on the same mortgage.
Lenders base their decisions on the worst credit profile and total income.
No, credit is not ruined beyond repair, especially from credit events happened 12 years ago.

My recommendation: Talk to a lender that your real estate agent recommends and find out what they are willing to do for you. IF credit is still an issue, work with that lender to map out a plan to help you achieve your goals. If there are credit issues that need more attention, get a recommendation from your real estate professional for a credit repair company to help you. We regularly help motivated people who are willing to take the steps necessary to become homeowners in the future. Home ownership does not have to remain just a dream.

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0 votes Thank Flag Link Thu Jun 7, 2012
Many times Mortgage Companies will consider the combined income of significent other for income verification. I have several great Mortgae people I can put you in contact with, Please advise the type of property ypu are looking for and I will be happy to assist you
Have a great day
Jesse Neely
Century 21 First Choice
206 Rockmont Drive
Fort Mill, SC 29708
Cell 803-370-4660
E mail jesseneely@comporium.net
Website http://www.soldinrockhill.com & http://www.JesseNeely.com
0 votes Thank Flag Link Thu Jun 7, 2012
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