Will my wifes past debt/ bad credit affect my loan approval & can i get the loan by myself in Florida?

It depends on if you need her income to qualify. If you do then yes it will affect you. If you don't then yes you can receive a loan only in your name. The main thing is if you can qualify with only using your income. That will determine your options.

If you are doing a FHA OR VA loan, you will need to have your income cover your debts and hers, and she does not have to be on the loan.. If you do a conventional loan, you can do the loan in your name only.. linda

It dies depend on whether income is needed to qualify. Is this a refi or a purchase?Please give e a call and we can discuss your situation and options.Sharon732 606 6264

If you can qualify on your income alone, then you don't need your wife on the loan.

Under ECOA, you have the right to try and qualify under your income and credit,, If your wife had joint credit with you that negative credit may have leaked over to your credit. Call me to check out. No charge to do application or pull credit and discussCraig Prickett 954 558 4430 Caliber Home LoansOr feel free to apply on line and then I can call you back www.firstfloridafin.com

Great question... and the answer varies. Any negative joint debt will clearly effect you. If there is no joint debt, now it depends on what state you are in, and what loan product you are using. I am in MN. Here I do not care about your wife unless she is on the loan. Just 20 miles away in WI, if you are using a government loan, then I will have to factor in her debt into your debt ration regardless if she is on the loan or not. I am not familiar with FL, so be sure to check with a local mortgage broker in your area.

If you qualify on your income and your own debts, plus the joint debts with your wife, you do not have to include her on the application and purchase contract.

Jason,If you qualify in your name only, then you may finance the property and your spouse may go on title. You do not need to qualify with both debts against you if you go FHA or VA. We are not a community property state, we are homestead state. You can go any finance option with just your name and your debts. Feel free to give me a call. I have been a lender here in Florida for over a decade. Thank you.