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New Home Buyer Questions

My wife and I want to be on the title and mortgage both for our first home. Unfortunately, her credit is not good, although she has good income (FICO 465, Gross $122,000/year). I, on the other hand, have great credit and successful self employed since 2008 (840 FICO, revenue 2017 $245,500). Would it be better to single sign my loan? Is there a great risk of a better rate if I add my wife to mortgage loan? by parksh59 from Chicago, Illinois. 2 days ago Reply


If your net profit is enough to qualify on your own you'll get much better terms that way. Wife could still be added to the title just not the mortgage. There are no conforming mortgages available with 465 FICOs.

2 days ago
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Additionally, there are no securitized loans at all for a score that low, including FHA, VA and jumbo. You'll definitely need to apply for a mortgage without your wife on the loan.

2 days ago
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