rvillarreal7…, Home Buyer in Chico, CA

spouse has bad credit, can we buy a home

Asked by rvillarreal777, Chico, CA Fri May 18, 2012

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7
, ,
Wed May 14, 2014
We take the lower of the two MIDDLE credit score when approving a couple for a loan. We base the pricing for the rate and term of the loan on that lower middle score.

My name is Bart and I have been lending since 1987. Feel free to contact me with any mortgage questions.

Bart Gabe - Lending Nationwide Since 1987

http://www.bartprequalifies.com

bart@bartprequalifies.com

800 315 8803 - 7 days a week
0 votes
Jan Davis, Agent, Chico, CA
Wed May 14, 2014
I was told recently that if one spouse has bad credit and one spouse has good credit that they might balance each other. I can give you a few lenders I recommend.

Jan Davis
Broker Associate
530-680-6503
0 votes
Brenda McLau…, Agent, Chico, CA
Sat Mar 30, 2013
I can do a loan down to a 580 Credit score. Or you can do a loan with only your name if you don't need the spouses income to qualify.
Call me 530-321-5526 for details.

Brenda McLaughlin
People's Choice Brokers and Mortgage Group
DRE 01211581 NMLS 536643
0 votes
Diana & Rich…, Agent, Paradise, CA
Sat Mar 30, 2013
Some lenders will require information about the spouse, but it's possible to purchase a home on one name if you locate the right lender. Good news just came out that FHA loans for a fico score of less than 600 so that will be helpful.
0 votes
Abu Musa, Agent, New York, NY
Sun Dec 23, 2012
You may talk to a mortgage banker. Because every situation is different. You may see your situation.
0 votes
Brenda McLau…, Agent, Chico, CA
Tue Jul 17, 2012
As long as your not getting an FHA loan you do not have to have your spouse on the loan.
0 votes
Actually on an FHA your spouse does not have to be on the loan, but they will look at any monthly payments your spouse is making in their name only.
Flag Sat Dec 22, 2012
Jessica Hood…, Agent, Gambrills, MD
Tue May 22, 2012
Hi RV,

If you qualify for the home on your own based on income and debt your spouses credit will be irrelevant. You can put the mortgage in your name alone.
0 votes
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