Posted on: 09th May, 2010 06:44 pm
My husband and I live in Florida and are wanting to buy a house that is $200K. His middle credit score is 622 and h makes $42K annually. My middle credit score is less at 540 but I make $85K annually. Is it possible for my husband to apply since his credit is higher but include my income so that we qualify for the amount we need?
Welcome mlangton,
You can cosign for the loan so that your income is considered while the lender considers you for the loan. Your husband's credit score would be considered and your income will be taken into account.
You can cosign for the loan so that your income is considered while the lender considers you for the loan. Your husband's credit score would be considered and your income will be taken into account.
So if my husband applys for the mortgage loan and I am a cosigner then only his credit report scores will be used but both of our incomes will be considered for the amount we qualify for? Will my credit scores affect qualification for the loan?