Posted on: 13th Feb, 2011 07:49 am
i have good credit wife has really bad credit. i need to know if there's any other way to use her income as a plus on my income
thanks, Richard
thanks, Richard
Welcome lucy,
Though your wife has a bad credit, you can take help of her income in order to get a mortgage. She can be the co-borrower of the mortgage.
Though your wife has a bad credit, you can take help of her income in order to get a mortgage. She can be the co-borrower of the mortgage.
To the contrary, Lucy, if your wife's "bad credit" is so low as to be below the minimum credit scores required by lenders now, you'll not be able to benefit from her income at all; other than your ability to rely on it to make payments once a loan is granted. Lenders cannot consider income from non-borrowers when assessing whether or not to grant a loan.
