Profile picture for brouzin

Can I seek a home loan in my name only even if my wife has a loan in her name only?

I have 680 credit score, good income, low debt, first time buyer and I'm not on my wife's loan. I live in California. 

Joseph G
  • June 01 2011 - Fresno
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (7)

Profile picture for brouzin
Hi Deborah, I plan to rent our home. Appears like my only option is a conventional loan. How much of a down I'm I looking at for a home around $240,000? Thank you, Joseph  
  • June 20 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Joseph,  The responses regarding FHA and Conventional are accurate as it relates to debt and including any of your wife's debt.  Are you planning on renting your current residence (assuming you are living there)? Buying in Fresno?  There is more information needed in order to give you some solid advice.  

I am in CA if you want some no obligation consultation, give me a call or email me your overall goals.   
  • June 20 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for brouzin
Melanie, I live in the Central Valley here in California
  • June 19 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

If your loan is FHA, all the debts of your wife enter to count your ratio.
If the loan is Conventional, you can get a loan on your name only.
She will be equally in title and on the Deed in a Community state.
  • June 15 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

what state do you live in?  In a community state if you go FHA you will have to qualify with her debts (even the house payment).  I would try going Conventional even if you have to put a little more down you do not have to add her debts.
  • June 02 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for brouzin
Thank you Annette for your reply. I was told that I could not qualify for a home loan because my wife already owns a home. Do I need to bring her credit score to 680 or is the loan process in my name only require my information? Thank you for your time.

Joseph G  
  • June 02 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Yes, you can get a mortgage in your name only. If you file joint tax returns and have been married over a year, you are not a first time buyer. You can receive a mortgage as owner occupied if you plan on selling or renting your current place.
  • June 02 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.