If I apply for a mortgage with my wife, will lenders use the lower or higher credit score to qualify?

Lowest middle score of all borrowers.. 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 Lender will use the lower of the two scores.

We will use the middle fico score from each borrower. The lower of the two will be used for pricing purposes when determining the rate.Most lenders have a minimum 640 fico score requirement.

As previously mentioned, we will use the lowest middle score. Assuming this effects the rate, or qualifications, you might want to see if you qualify in your name alone. I'm a RI based lender. Please feel free to call at 401 301 0130 if you would like to explore further.

CHLuke,It is the lowest middle score of the both applicants. Happy house hunting!Chris CouchonRandolph Savings Bank401-589-2803 Directccouchon@randolphsavings.comNMLS ID # 981029

Yes it is the lower however if the higher score qualifies you can leave the other one off the application if the higher score individual income qualifies. Then both of you can still sign the deed.

The mortgage company pulls what we call a tri-merge credit report which shows us all three scores from the three different credit reporting agencies. We will use the middle score of those three different agencies. So, if you have a 707, 695 and a 703 we would use the 703 score. Each of you would have three scores as indicated above and we would use the middle score of the person with the lowest middle score.If your spouse does not have good credit, you may want to look at putting the loan in just your name. However, if you do that you wouldn't be able to use their income. As you can see, it can become complicated. Give me a call or email me and I'll be happy to discuss further. Ray 254-449-7196 or rlewis@englending.com

The lowest middle credit score out of you and your wife will be used to determine pricing for the loan, as mentioned in the above responses.

There are special programs where this will be different. For example if you're Native American the HUD 184k program doesn't base the approval on credit score only credit history. So you might look to see if there are special programs that are designed for individual needs.

The lower credit score will be used to qualify, however if your concern is the interest rate you will get, this really only matters when you are attempting to obtain a conventional mortgage. If you are trying to obtain an FHA, VA, Section 184, or RD loan and as long as your score is over a 640, then your interest rate should be the same as someone with an 800 credit score. Conventional loans differ in interest rate for different credit score intervals i.e. 700-719, 720-739, 740 +, all brackets will receive a different interest rate.

Most lenders will use the lower middle score.

Lower of the two middle scores

Lower of the the two middle scores is what will be used as the qualifing credit score

lowest of the 2 middle scores