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Author: Dwdonhoff Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 128371  
Subject: Re: Combined credit of spouses? Date: 3/20/2001 10:01 PM
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Hi EditorialWe...

>>>Does anyone *really* know, i.e. have first hand knowledge, of how spouses with vastly different credit scores might fare in applying jointly for a mortgage?

It does indeed depend on the lender and the programs.

Worst case is you need both incomes to qualify, but the lender looks at all players' credit? Here's your solution;

Do the loan in the name of the better credit holder only, do it as a "Stated Income" loan, so you can claim the income of both of you, but your spouse won't be on title.

This is almost SURE to create some fun relationship conversations, huh?!?!

If they aren't big enough to get over it (hey, THEY'RE the ones with the stinky credit, right?!), you can always promise to deed them onto the title at some point in the future *IF* they're good and treat you right!

All the best!
Dave Donhoff
Home Finance USA
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