Does a spouse have to be on the mortgage loan in Texas?

Hi charitymoore!

Welcome to forums!

As far as I know, the lender will allow one spouse to take the mortgage in a community property state. But there are chances that the lender will ask you to sign an inter-spousal deed in favor of the other spouse. Check out the following link to know more about inter-spousal deed:
http://www.mortgagefit.com/discuss/interspousal-transferdeed.html

Feel free to ask if you have further queries.

Sussane

One spouse can obtain a mortgage; however, both spouses may need to be on title documents. Ultimately, the mortgage and title documents can be on only one spouse's name without affecting the other spouse community propery rights.

We live in Texas. My son is buying a house and needs a co-signer due to his short employment history even though he has good credit. I am going to sign for him, but my husband will not be included even though he is aware that I am signing for him. Does he have to sign anything for the mortgage or only to acknowledge that I am. They are insisting that they have to run my husband's credit but I do not think Texas law requires it.

If you want to co-sign for the property, then I don't think the lender should go for a credit check of your husband. Your credit score and income history will be considered as you are planning to co-sign for your son.

Fannie Mae doe not allow non-residing co-signers. In other words, Fannie Mae doe not allow you to sign for a home loan if you are on title as an owner of the property. If you are listed as an owner on title and do not reside there, it will be an investment property with a higher rate.

Also, a short employment history does not prohibit your son from getting a loan. There is another reason that you are not being informed of.