Posted on: 02nd Sep, 2010 07:15 pm
My husband has excellent credit and I do not. Can he apply for a mortgage (for a house for 210K) with me being a co-borrower. We file our income taxes jointly, does that make a difference? If I am on the loan our interest rate will be much higher and obviously we are trying to avoid that.
Hi llcoolk,
If the interest rate will be higher if you add your name to the loan, then it will be better if you don't co-sign for it. Your husband should take out the loan in his name alone. This will help him get a better interest rate and thus, your payments would be affordable.
Thanks
If the interest rate will be higher if you add your name to the loan, then it will be better if you don't co-sign for it. Your husband should take out the loan in his name alone. This will help him get a better interest rate and thus, your payments would be affordable.
Thanks
thank you jhogg, but more specifically IT IS POSSIBLE, for him to do it alone right? I just wasn't sure if was, for lack of a better word, "allowed", when were married and filing our taxes jointly. I didn't know if we "had to" apply together.
Hi Guest,
It is possible for your husband to get a mortgage alone. It is not mandatory for you to co-sign for the loan.
Thanks
It is possible for your husband to get a mortgage alone. It is not mandatory for you to co-sign for the loan.
Thanks
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