wanted to know if i can buy house on my wife's credit as i have collections and dont have a perfect credit , Not sure what's the law in Massachusetts,

Asked by KyaSmith, Reno, MN Mon Jul 30, 2012

We both are working and first time buyers

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Tim Moore, Agent, Kitty Hawk, NC
Mon Jul 30, 2012
I think it works the same way everywhere. If one person is strong enough to qualify, all on their own, the lender will do a loan using just the name and credit of one. If you need both to qualify for the loan then both persons credit is evaluated. You need to discuss this with a lender.
1 vote
Well these all commenst give me a hope Thanks for a quick response
Flag Mon Jul 30, 2012
Heather LoRe…, , North Reading, MA
Fri Aug 17, 2012
Hi Again,

If you do get a positive answer and a pre-approval letter from a lender using your wife's credit, you will want to work with Realtor who will help you find the home you are looking for successfully. I do know the Burlington area very well and would be happy to help you. It is important for you to know that my work for you is free! Once you find the home that suits your hopes and needs best, the seller pays my fee for bringing you there as a buyer.

Feel free to contact me once you have received pre-approval at:

Heather LoRe, Licensed Realtor in MA
Century 21
Cell 978-604-6521 (talk or text)
Email heatherlore21@gmail.com
0 votes
Heather LoRe…, , North Reading, MA
Mon Aug 13, 2012
Hi, You will be happy to find out that right now owning can be much less than renting. Sounds strange, but the primary reason is that the mortgage rates are still around 4%, the Mass Housing Loan is structured very well for first-time home buyers, you only need 3.5% down which usually equals the first, last and security on an apartment and lenders will tell you what you need to do to qualify if you do not get a pre-approval right away. Please let me know if I can be of any help. Sincerely, Heather LoRe, Century 21, Cell 978-604-6521, email heatherlore21@gmail.com
0 votes
Territory.c…, Agent, MA,
Tue Jul 31, 2012
If she can qualify to buy the property on her own credit than you should be good to go. Definitely talk to a mortgage broker or lender about options.

Massachusetts Premier Buyer Brokerage
Web Reference:  http://territory.com/
0 votes
Scott McCaul…, Other Pro, Portsmouth, NH
Mon Jul 30, 2012
You can have one person on the mortgage (the financial obligation) and both people on the deed(who owns the home). So, if she can qualify to buy it by herself then you are good to go. If you need help figuring that out I would be glad to assist.

Scott McCauley
Licensed Mortgage Planner
Regency Mortgage Corp.
NMLS # 174108
CONTACT INFO @ http://www.LendWithScott.com
0 votes
Thanks so much Scott, Can you help find Homes in Burlington,MA
Flag Mon Jul 30, 2012
Richard Shap…, , Framingham, MA
Mon Jul 30, 2012
If only using wife's credit then only she is buying home and qualifications are on her only.

Collections may not neccesarilly disqualify you. It might be best to sit down, have someone (like me) run your credit, and help figure out whether or not you can be on the purchase or not. And if not, what you might need to do to get your credit to the range needed.

rshapiro at assetmortgage dot net
0 votes
Thanks Richard for your useful advice, i will broswe thru yur website and get back to you
Flag Mon Jul 30, 2012
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