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Spouse debt included in buying a home.

I have a lot of debt, mostly student loans. My husband and I are looking to buy a home using FHA. He makes enough to purchase a house on his own, do I need to be included in anything that has to do with obtaining a mortgage? I was told that I can decide not be included in the actual mortgage but must sign on the deed. My main question is do they look at my credit, debt, etc. when he applies for the mortgage or determining the debt to income ratio? If so do they look at things like student loans or only credit cards and car loans? Thank you! by shannon77 from Saint Clair Shores, Michigan. 6 days ago Reply


Jim Papatheodore (LoanJim)
#2 ranked lender in Michigan - 14 contributions

Good morning Shannon! The only debts that will be included in the debt to income ratio is whatever debts your husband has in his name and any that he has joint with you. He can be on the mortgage loan by himself. If you would like to know the amount your husband can qualify for or would like a second opinion to compare to another you have already receive, please reach out to me at Jim@LoanJim.com. Thank you and have a great day!

5 days ago
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Jack Cyrul (Jack Cyrul)
#1 ranked lender in Michigan - 93 contributions

Your husband can apply all on his own and they do not look at your credit or debt! Call me for a free pre-qualification at 734-395-9027 Ask for Jack.

5 days ago
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Mike Silkworth (msilkw_195_870)
#3 ranked lender in Michigan - 520 contributions

Hi Shannon ... Congratulations on you decision to buy a home. Based on what you said, you have multiple options including, but not limited to FHA. And yes, the home can be purchased by both of you with only your husband on the loan not taking your debt and income into consideration. I'd love to help you through this ... Mike Silkowrth ... Union Home Mortgage ... 517-489-2328 ... msilkworth@unionhomemortgage ... www.MikeSilkworth.com

4 days ago
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