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Posted in Mortgage
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queenautumn

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My credit is good, spouse is fair. Get mortage with bothor just me?
My spouse and I own a condo. The mortgage is in my name only. Since purchasing the condo my spouse has been working on credit and has improved it but only to Fair. We are going to buy a new home. I'd like to include both incomes .... but will that bring our total down? I make about twice what my spouse does.

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If you live in a community property state you have to include his credit. If he doesn't qualify you may be able to put him on the paperwork as a non-purchasing spouse, but if you don't use his credit then you can't use his income.

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Also, they don't average your credit scores. They look at each of your median scores, and use the lowest one. Unless of course he doesn't qualify, then I believe they'll only use yours.

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