For an FHA loan in state of California; Does the spouse have to be on the loan even if spouses debt is prior marriage debt?

Asked by Romero47, Humboldt County, CA Thu Jul 12, 2012

My husband, of only three years, and I are wanting to purchase a home in CA. I have prior marriage medical debt. Even though its prior marriage debt am I still required to be on the loan? If so will my credit affect the interest rate of our loan?

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Gregorio Den…, , San Diego, CA
Thu Jul 12, 2012
You are not required to be on the loan, but any debt of yours that show up on your credit report will be calculated into his debt ratio regardless of if it's pre-marriage debt or not. Your credit will not affect the interest rate he gets nor will it affect him being able to qualify. This pertains to FHA mortgage as you asked. For a conventional mortgage, neither your credit or your debts will be considered if you are not on the loan.
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