Profile picture for sdenisem

My husband's name is on the mortgage loan application by himself for a home we are purchasing.

If I finance something in my name only will that affect the process? 
  • August 20 2013 - US
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Answers (6)

When applying for a mortgage, the lenders will only look at the finances of the person who's name is on the mortgage. Since you will not be on the mortgage that means you finances will not be looked at. But before you make any big purchases, just make sure that the loan application will be able to qualify on your husbands name alone. There just might be a chance you may need to be on the mortgage. For example, if his income is not enough, you may need to be added to the mortgage to qualify so just be careful.

Hope this helps and good luck!
  • August 20 2013
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Profile picture for GMerino

No, it will not affect the process of your loan.  You are not on the mortgage application so your debts will not affect this purchase. 

  • August 20 2013
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Virginia is an equitable distribution state so your debts do not affect his mortgage.
  • August 20 2013
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Profile picture for sdenisem
It a mortgage loan to purchase a home in Virginia 
  • August 20 2013
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Profile picture for GMerino
What kind of a loan are you seeking?
  • August 20 2013
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Depends, are you in a Community Property State?
  • August 20 2013
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