Just got married and have bad credit but my wife has good credit. What do I do?

You can buy a home in her name only, if she makes enough income; add your name to the title after the loan has closed.

If you have poor credit and could not get a loan in your own name because of your poor credit, then you will not be able to be on a loan in her name. She will have to apply in her own name and only her income would be allowed to be used. You, as they say, would be excess baggage. If you want to be on a loan, you will have to get your credit cleaned up. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Have you had anyone look at cleaning up your credit?

Hello Tyler,Yes, your wife would have to qualify with her own income and depending on the loan program you may need to include your debts in there as well. The best thing to do, provided your wife has income, is to call a local lender and go through the application process. Good luck

Lenders will look at the lowest mid credit score of all borrowers.. if your score is below the minimum allowable credit score, the loan would be denied.. If your wife has enough income, she can apply on her own and only her income will be considered.. if you need your income to qualify for the home you wish to buy, then you will have no choice but to clean up your credit prior to applying.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

The only way for your scores not to be included is to not be on the loan. If she can qualify with her income alone this would be the easiest route. However, you should look at cleaning up your credit regardless so you don't run into these types of situations.

The lowest of 2 borrowers "middle score" is used to qualify... so if your credit is unacceptable the loan would have to be just in her name. This means that only her income, debts and credit will be used to qualify. I'd recommend talking to a good "mortgage guy" who could review your credit or refer you to a professional to clean it up. Depending on what's on there... it could be anywhere from 2-3 months to much longer to get you to the point of being eligible to be a co-borrower. (it all depends). Hope that helps... call/email if you have more questions. Steven Brand - iLoan Home Mortgage. 612.386.5306 www.StevenBrandHomeLoans.com

If you and your wife apply for the loan together, they will use the lowest of the two credit scores to determine eligibility. You can also consider having just your wife on the loan (if she qualifies based off of her income). Does she make enough alone to qualify for a mortgage? If so, you can be added to the title of the home once if it purchased. Or in the future, once your credit score has improved, you can look into refinancing with both of your names on the new mortgage.

You have 2 options. First, You can just put it in her name, but would only be able to use her income. You could always put your name on title-- depending on what state you live in. OR the second options would be to build his credit to make you qualify. We are located in New Hope, MN and would love to help you out or if you have any questions please don't hesitate to call 952-884-5442.

In the state of MN married couples, whether they are both on the loan or not, have the same vested interest in the home. If you credit is shot but your wife's credit is good you could see what she qualifies for on her own.

You can be in title on the property as a "non-purchasing spouse." There is no need to add your name to the title after the fact. If you have bad credit you likely just won't be part of the loan....meaning your name is not on the Note, but in on the Mortgage. If you not on the loan, your credit isn't consider, nor any of your debt. The down side is none of your income can be included either. If your wife can qualify for the loan on her own...you're still in great shape. Call me if you'd like to discuss this in more detail. It's a fairly common occurrence and shouldn't be a deal-breaker. It'll just limit your purchasing power to your wife's ability.

Based upon my 35 years in the industry, Minnesota allows us to only use 1 of a married couple to qualify a mortgage for. Both parties can be on title. If we use 1 person's credit, we can only use that 1 person's income. If you are both on joint debts, we may be able to not use some debts against the borrowing spouse in certain circumstances. Give me a call to discuss further if I can help. Dave 763-519-1100

first , it depends on her credit and her income , and what you have for a down payment... if you go FHA, SHE WILL have to qualify for your debts and hers , if you want to tell me privately, what is on your credit report, you can email me yourloanpartnerforlife@live.com i use to be a credit underwriter.. linda

To be able to use your income, your scores will have to be used. You should speak to a mortgage pro in your area and have them help you or refer you to a credit specialist to clean up your credit. if you have at least a 580 middle score fha will allow up to 96.5% loan to value.

If you need both of your incomes to qualify then you'll have to be on the loan. They will take the lowest middle score between you both so your credit score will come into play. So if you need your income then try to go to someone who will clean up your credit, if you want I can suggest someone for you. If you don't need your income to qualify then your fine, you can be on the title and not the loan.