I plan to purchase a house. Would the lender require my husband's income and tax documents (we file separately) to approve me for a mortgage?

Asked by Kay, Glen Allen, VA Wed Nov 14, 2012

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Barbara Curry’s answer
Barbara Curry, , Virginia
Wed Nov 14, 2012
Hi Kay,
Yes you would need proof of income if his name will also be on the mortgage. You would each submit your documents under the application.

Please let me know if I can be of service if you are seeking an honest and reputable Real Estate professional.

Barbara Curry.

barbaracurryhomes@gmail.com
0 votes
Shirley Moore, Agent, Elmsford, NY
Thu Feb 20, 2014
If you are purchasing alone, you do not need your husband 's information. As long as you qualify based on your own income, credit history, asset and downpayment.
0 votes
Phyllis Smith, Agent, Mechanicsville, VA
Wed Nov 14, 2012
You could qualify on your own, but I would check with a lender first to see what your options are. I have a great lender in mind if you need my assistance with getting pre-qualified. Let me know if I can be of any assistance with your Real Estate needs. We are a company of "one stop shopping" in Real Estate.

Thanks,

Phyllis Smith, Realtor
Remax Signature
9394 Charter Crossing
Mechanicsville, VA 23111
(804) 943-8590 - cell
(804) 205-1263 - ofc
0 votes
Nancy Robins…, Agent, Royal Oak, MI
Wed Nov 14, 2012
Yes you can qualify for a mortgage all on your own. Just contact your favorite lender and Realtor, to find out what you do qualify for and what you want to buy and then HAPPY HOUSE HUNTING!!!!
0 votes
Betty Hesalt…, Agent, Glen Allen, VA
Wed Nov 14, 2012
Hi Kay,
If he is not on the mortgage document he will not be required to submit his income and tax documents. If you need his income to qualify for your home purchase then he will be required to provide all of the documentation they request.
0 votes
Shirley Moore, Agent, Elmsford, NY
Wed Nov 14, 2012
Not neccessarily. If you're purchasing based on your own merit. Contact a Lender to get qualified.
0 votes
Tom Reilly, Agent, Barnstable, MA
Wed Nov 14, 2012
Kay,

The mortgage application requirements have changed signigicantly since the downturn in the market and continue to evolve. If you are getting ready to purchase a home, you should have a relationship with a Realtor by now. A good Realtor will recommend different mortgage originators to you and those originators will be able to answer your question and any others you have relative to the mortgage process. I hope this helps and I only wish you were buying on Cape Cod!!

Tom
0 votes
Steve Landi, Agent, Glen Allen, VA
Wed Nov 14, 2012
Kay,
I would think that the lender would require your husband's income documents only if he is going to be on the mortgage documents. If you can qualify for a loan on your own and do not wish to use your husband's income and the two of you have discussed this scenario, then I would contact a lender and get the process started.
0 votes
Justin Toney, Agent, Henrico, VA
Wed Nov 14, 2012
Hi Kay,

In my opinion if it is just going to be you on the mortgage then I would not think a lender would need that information. However I am not a lender myself you really need to talk with a lender. I recommend contacting your bank or lender who you have worked with before.

If you are looking for a recommendation my clients have had great success with:

Andrew Price
(804) 281-3705 Office
(804) 673-2135 Fax
(804) 920-6290 Cell
7229 Forest Avenue, Suite 102
Richmond, VA 23226
NMLSR# 659486
E-Mail: andrew.price@suntrust.com

Also serving the Mechanicsville area at:
(804) 281-3705 Office
8028 Mechanicsville Turnpike
Mechanicsville, VA 23111

If you have any other questions feel free to contact me.

--
Justin

Justin Toney, GRI, ABR®, SFR
Associate Broker
Graduate REALTOR® Institute
Accredited Buyer’s Representative
Short Sales and Foreclosure Resource Certification
Austin Properties Inc.
P.O. Box 8321
Richmond, VA 23226
Mobile: (804) 543-6303
Fax: (804) 543-6303
Email: Justin@JustinToneyRealtor.com
Email: Jtoney2@gmail.com
Website: http://www.JustinToneyRealtor.com
0 votes
Andy Newman, Agent, Richmond, VA
Wed Nov 14, 2012
Kay
If you can qualify for the new mortgage (including your own income, debts and assets/credit history) without adding your husband's income then no- the mortgage company will not need to get him- or his credit history- involved.
If you would like to have some help through the process- call/text/email me. My 23 years in real estate can be your best friend!
Great question, by the way.
Andy Newman
Joyner Fine Properties
804.873.7653 Andy.Newman@JoynerFineProperties.com
0 votes
Pam Davis, Agent, Richmond, VA
Wed Nov 14, 2012
You really need to speak to a lender as soon as possible. There are many factors involved including credit score, employment, salary, etc. How taxes are filed doesn't really have a bearing on the purchase, but these other items do. Contact a reputable mortgage lender as soon as possible so you can start planning as now is the time to purchase with interest rates so low and prices holding steady in most areas at the present time.
0 votes
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