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NO but if one persons score is over 600 you could do a stated income loan and get a house that way the interest rate would be slightly higher than a conventional loan but it's better than throwing away all your money renting each month and getting nowhere.

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Q: Can a couple use one person's credit score but both incomes to secure a mortgage?
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Which persons credit score is used when a recently married couple applies for a Mortgage?

the person with the lowest score


Whose credit score is used on a joint mortgage?

Both persons if it is applicable. In some cases a married couple will hold a joint mortgage but only the wage earner will have a credit score on record.


How does a persons credit score affect mortgage credit rates?

Actually the better the credit score the better are the offers for a mortgage credit loan. In general the interests offered for a new loan depend (besides others) directly on the credit score.


Do you need credit to take over a persons mortgage?

Yes. You would need to be approved by the bank and it would check your credit record.


Can someone who is on the home deed but not on the mortgage get a home equity line of credit?

The persons who are on title must both sign for a equity line of credit.


You want both names on the deed and both incomes counted but you only want your spouses credit checked for the mortgage decision is that possible?

No, if both are going to apply for the mortgage using their combined incomes, a credit check will be done on each individual. If one person feels their credit history may be a liability in obtaining the financing, they may want to explore the possibility of the person with good credit being a single primary borrower. Obviously this would only be a viable option if the person's income level was adequate to procure the loan.


What is the current interest rate on a fixed rate mortgage?

The interest on a fixed rate mortgage varies between 4% to 7% depending on several factors. The most important factor is the person's credit history. Persons with excellent credit history can get a very low fixed rate, persons with average credit history will get a higher rate. At the beginning of the mortgage, fixed rates generally are higher than variable rates.


How can a person with bad credit increase their chance of qualifying for mortgage loans?

There are a couple steps to take in order to qualify for a mortgage with bad credit, such as check your credit report, demonstrate a steady income, eliminate all other debt and to also look for a co-signer.


Will a bank give a mortgage to 4 siblings if 1 is unemployed 1 has liens 1 has 2 mortgages and 1 is getting a divorce?

It depends on any prior liens in the property, the incomes of the parties, their credit ratings and whether they can afford to pay the mortgage. The lender may want the liens paid off first. You won't know until you speak with some lenders.It depends on any prior liens in the property, the incomes of the parties, their credit ratings and whether they can afford to pay the mortgage. The lender may want the liens paid off first. You won't know until you speak with some lenders.It depends on any prior liens in the property, the incomes of the parties, their credit ratings and whether they can afford to pay the mortgage. The lender may want the liens paid off first. You won't know until you speak with some lenders.It depends on any prior liens in the property, the incomes of the parties, their credit ratings and whether they can afford to pay the mortgage. The lender may want the liens paid off first. You won't know until you speak with some lenders.


Which companies offer mortgages for persons with a bad credit?

There are a few ways for people with bad credit to get mortgages. The following companies offer mortgages for people with bad credit: E-Loan, MortgageCreditProblems, and Ameriquest Mortgage Company.


Do married couples receive lower mortgage payments than an unmarried couple who is co-borrowing?

it's based on your credit place


How can I get a mortgage with bad credit?

It is very difficult to get a mortgage with bad credit. You will probably first have to raise your credit score.