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Can we use my income and my husband's credit score to qualify? I don't have credit, but his is excellent?

by natasha.goodwin292 from Sugar City, Colorado. Oct 22nd 2015 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,568 contributions

There are very limited "trailing spouse" options. In most cases, you can't use your income if you are not on the loan itself.

Oct 22nd 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,045 contributions

More info is needed, but in general, if you are both on the application, then both your credit profiles and income will be considered.. however, if you do not apply, but only your husband does, then only his income can be considered.. Also, if you have no credit, then certain lending programs allow for "Alternative credit" like payment history for services such as rent, utility payments, auto insurance payments etc.. so long as these payments are paid by you, they help with developing a credit profile for qualifying purposes.. But if you have no "Good" credit, only "Bad".. then most certainly you cannot be on the loan.. your husband will have to qualify on his own. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Oct 22nd 2015
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David Hosterman NMLS 220562 (dhosterman)
#13 ranked lender in Colorado - 26 contributions

This is not allowed. Any borrower on the loan has to have their credit associated with the loan. Lender will typically take the lower of the two scores for qualifying purposes.

Oct 22nd 2015
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Derick Condron (rightstartoregon)
#33 ranked lender in Oregon - 597 contributions

For the most part no. You will need to be on the loan. If you do not any credit you might be able to find a company to manually underwrite the loan and add alternate trade lines for you such as car insurance and utilities as long as your name is on them.

Oct 22nd 2015
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Christina Hayes (CreditRepairExpert)
#8 ranked lender in Tennessee - 68 contributions

Does you husband have an income?

Oct 22nd 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,109 contributions

Hi Natasha, the answer is no you cannot. In order for the lender to use your income they have to use your credit. The lender will use the lower middle credit score when qualifying. However, when you say you don't have any credit, do you mean no score at all? If so, then you can possibly go with an FHA loan and use alternative credit to qualify. If you want more information please give me a call at 303-521-7169 or syoung@nafinc.com

Oct 25th 2015
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