My husband and I are thinking about buying a house. His credit isn't good at all. Mine is good. I know I could get a loan BUT I do not have a job so someone explain this to me. Will they just look at his credit score since he has the income or will they look at both?? We are looking into the Rural Housing Loan FYI.Answer Question
Answer by shanlaree at 6:35 PM on Nov. 7, 2010
Answer by JazzlikeMraz at 6:39 PM on Nov. 7, 2010
In buying a house, they want to know how much income the person applying for the loan makes. This is how they gauge how much they are willing to give them. They will not give her a loan if she can't prove income, therefore they will have to look at his credit score if they want to buy a house.
And to clarify what I said above... once married, you may have different credit reports/scores, but for the most part credit cards, loans, etc... will always end up on the spouses report regardless of who applied for the loan, credit card, etc... The last few vehicles we have bought we put in my hubby's name as he is the one that can show income, but they are on my credit reports as well. I have a credit card that I have had since I was in college, in my name only, but it is in his credit report as well.
Answer by shanlaree at 6:53 PM on Nov. 7, 2010
Answer by tabekat at 12:33 AM on Nov. 8, 2010
Answer by HotMama330 at 12:35 PM on Nov. 8, 2010
Answer by tasches at 3:02 PM on Nov. 8, 2010
Answer by cuteness13983 at 7:22 PM on Nov. 8, 2010