Rentals in Yucca Valley>Question Details

Justin Harris, Renter in Yucca Valley, CA

Does it matter if your spouse works but they want to put it under your name? how does that work under whos name would it be?

Asked by Justin Harris, Yucca Valley, CA Fri Apr 20, 2012

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It's very simple, for example, if a Husband is working but the Wife is a stay home Mom she can go on the loan with her Husband provided she can credit qualify. Meaning as long as she doesn't have bad credit i.e. collections, charge offs, late payments or delinquencies. If she does, it may be better or just plain necessary to leave the Wife off the loan.

If the Husband, who is the main wage earner or only the person working, and he has terrible credit and the Wife has perfect credit, it won't make any difference adding the Wife. Because she is not contributing financially to the household income, she bring no weight to the loan application. Most likely he will not qualify unless he does some credit repair. It's not like the ole days when people could just state their income on an application and not be required to substantiate their income. We are leaving in a different world now.
0 votes Thank Flag Link Fri Apr 20, 2012
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