My husband has bad credit and I have excellent credit. What is the best way to buy a house? ?
Related posts:
- Best site for bad credit home loans(purchase)?Husband had HeartAttack,I don’t work-you do the math-credit sux!
- What is the best way to buy a house when you have bad credit and bad job history?
- what is the best way to buy a house with bad credit, but good job?
- what is the best way to buy a house with little to no maybe even bad credit?
- What should we do when buying a home if I have bad credit but fiance has excellent credit?
Well as you said you have excellent credit, the best way would be to have you as the primary borrower and depending on which program you are going to go with have your husband and co-borrower. It does depend on the bank, they can use your husband as more income. But sometimes him having a lower score can affect your rate. You can also go through FHA program since they go as low as 500 credit score. But they do go with the lower score. If you are able to get the loan on your own with your own income and your Debt to Income Ratio is where it needs to be with you alone then try it. But if you need your husbands income, see which and if there are still any that will use him just for his added income…Good Luck
We were in the same situation and went ahead and did an FHA loan in my name, and the title in both. SO much easier.
The best thing to do would be to talk to a lender/broker. They would know all the options available.
The answer on top from Ziggi is right, you can have the loan under your name and title under both.