Monday, August 15, 2011

Securing a home loan with 2 incomes?

My credit is below average, however my wife has a credit score of 725. She makes around 60k a year, and I make around 75k. My question is: If my wife bought a house in her name, using her credit, would I be able to factor my income and monetary contribution into the amount of loan we would qualify for? Basically, would the bank factor my income into the equation without using my score? What would our options be......my income would qualify us for a larger loan, but if my credit score was brought in the picture it would bring our qualifications down.

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