Posted on: 14th Jul, 2009 07:34 pm
My husband and I want to buy a house and his credit score is not so good, but his income is not bad. My credit score on the other hand is great but I only work two days a week, so my income is not so great. Would it be better for me to apply for a loan or my husband?
teaguekatherine
Welcome to the forum
I would say its better to have "Good credit and also Good income"
To answer your question, if your husband has bad credit but good income, he will be able qualify for bigger loan at a higher interest rate, with your case you will be able to qualify for smaller loan with lower interest rate
But since your husband has good income, if he can work on his credit to improve it by using his incometo clear out some of the bad histroy he may be able to qualify for a better loan at a better rate
Good luck and feel free to ask
Welcome to the forum
I would say its better to have "Good credit and also Good income"
To answer your question, if your husband has bad credit but good income, he will be able qualify for bigger loan at a higher interest rate, with your case you will be able to qualify for smaller loan with lower interest rate
But since your husband has good income, if he can work on his credit to improve it by using his incometo clear out some of the bad histroy he may be able to qualify for a better loan at a better rate
Good luck and feel free to ask