shannon.pich…, Home Buyer in San Martin, CA

Will my bad credit affect my husband getting an FHA loan to buy a house?

Asked by shannon.pichler, San Martin, CA Sat Jun 30, 2012

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Sally Foo, Agent, San Jose, CA
Mon Feb 4, 2013

Our loan officers (within the real estate corporation include a mortgage company nationwide) can help you. I am a Realtor, just sent me an email at and I'll send you Chris' info to contact him if you wish to check him out.
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Robert Chome…, , San Diego, CA
Sat Jun 30, 2012
Are you on the loan? If you are not on the loan, that your credit score will not impact his ability to get the FHA loan. But your debt obligations will have to be factored into the debt-to-income ratio for loan approval.
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Grace Morioka, Agent, San Jose, CA
Sat Jun 30, 2012
Hi Shannon,

Without knowing the credit scores and credit history for both you and your husband, we'd all just be guessing what might happen if you applied for a loan together. Your best and most accurate answer will come directly from the mortgage broker.

I know, from personal experience, that it can be pretty frightening talking with a mortgage broker and there is always concern about what to tell the broker about your financial situation. But here's one thing to remember, your mortgage broker is YOUR agent and will try to match you and your husband with a lender whose lending guidelines most meet your specific needs. Also, withholding information will only create problems later--it's better to be prepared and forewarned then disappointed later because you could not meet lending requirements.

The mortgage broker will also tell you if it would be better for you to not be on the loan for a home or if its better to wait. In some cases, there may be things you can do now that will have a positive impact toward your credit in the very near future, and will make home buying that much easier. Either way, you won't know what your situation is or how to resolve it until and unless you speak with your mortgage broker about your financial situation.

So talk to the broker, be honest, and work with the mortgage company to find a great loan for your next home purchase.

Good luck!
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Cindy Davis, Agent, San Diego, CA
Sat Jun 30, 2012
If his credit is good, you are not on the loan, and he qualifies with only his income, then yes, he should be ale to get a loan.
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Harold Sharpe, Agent, Menifee, CA
Sat Jun 30, 2012
It can. It depends what is on your credit report.
You may be required to fix items if you owe money that is past due.
Your financial info is looked at and considered.
Your debt ratio may harm or help.
Debt ratio = income vs amount owed on a monthly basis
The best thing you and your husband can do is get in touch with a good lender and call and ask questions. There is no one answer. everyones circumstances are different.

Harold Sharpe - Broker
So Cal Homes
(951) 821-8211
California Department of Real Estate Broker License # 01312992
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Gregorio Den…, , San Diego, CA
Sat Jun 30, 2012
If you are not going to be on the mortgage, your credit score will not affect his purchasing. Your debts will be calculated into his ratios for qualification purposes so your credit report will be required but for that purpose only.
Web Reference:  http://WeFixRates.Com
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Stu Carson, Agent, San Jose, CA
Sat Jun 30, 2012
Depends on how bad. If below 620 FICO score, yes most likely. But even if that's the case, then you (as wife-partner) can try and qualify for the loan without him based upon your credit score and your income only. Again in the case of only you being on the loan you will be limited to what you qualify to purchase with your income only.

Call or email me if you have more questions, but the short answer is, even if your husband has bad credit, there may still be a way that you can buy a home.

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Robert White…, Agent, Morgan Hill, CA
Sat Jun 30, 2012
First, talk to some lenders for the best answer. I have two I work with if you need a suggestion. In fact, I have a great local lender in Morgan Hill who can help you.

I had a client recently in a similar boat and they simply left the spouse with the poor credit off of the application. However, I have also seen clients in the past year where one spouse had great credit and the other had poor credit and they were both on the loan and everything worked out fine for them.

Once you are ready to start looking for a home. I specialize in the Morgan Hill/San Martin area and would be happy to help you.

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HI, thank you for your response! My husband was approved for a 425,000 loan. God forbid but do you know if something happens to him or us would i still be able to get the house if my name is not on the loan? We are looking in Morgan Hill now and would love recommendations from you on a 3 bedroom in our price range. We also need good schools or our young kids. Thank you!
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