Forgotten Your Password?

Need to Register?

Question Icon

Income to debt ratio

I'm married and file income tax jointly with my wife. Question is if I'm trying to take out a mortgage by myself, when banks calculate loan amount based on income to debt ratio and credit score, do they check my wife's credit score and her debt? My wife does not work, but she has a car payment under her name. I do not have any debt. Thank you. by douglasb4 from Dallas, Texas. Mar 2nd 2010 Reply


Kevin Lane (Kevin Lane)
#117 ranked lender in California - 7 contributions

If you make the application with you as the only borrower , it doesn't matter what your wife's circumstances are , however you will not be able to use her income , if you do that. Thx Kevin - Realty Answers Inc www.realty-answers.com Modify or Restructure you loan www.loanmod-answers.com& San Diego Lenders www.sdlend.com 760 212 7991 Direct Line888 714 7197 fax

Mar 2nd 2010
0
0
Chris Kelso (Chris Kelso)
#8 ranked lender in Texas - 11 contributions

If it is an FHA loan we have to look at the entire credit profile of both you and your wife along wiht all debt. We would use all family debt against all income, which in this case is just your income. Conventional loans do not require us to do this. We only look at your income , debt and credit. Please feel free to contact me at 713.256.9138 with any additional questions.

Mar 2nd 2010
0
0
Subscribe to our news feed.