Profile picture for heather7_23

My husband purchased a house in Sept2009.My name is not on the deed or mortgage. Can I buy a home?

We married in November 2009, My name is nowhere on the mortgage or the deed. We are wanting to buy a larger house next year but seriously doubt we will be able to sell our current house. So we were going to rent out our current house and buy another house in my name. My question is will I be able to buy a house as a first time home buyer and/or will I have a harder time buying a house because my husband already has a mortgage?
  • November 08 2011 - US
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Answers (3)

Profile picture for Sharon Lewis
My question is why would you not want to also have your husband on the next purchase? 
  • November 09 2011
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Your question can't be answered without some figures. I don't know that there is any advantage to being considered a "first time home-buyer", any how. Do you guys have lots of income compared to your level of debt? Who is the major breadwinner? If you are, you have a good chance. If your husband is, it will be harder. What state are you in?
  • November 09 2011
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In today's market many people are either upside down or won't be able to sell their home for what they owe on it. Sometimes they just choose to hold on to their current home till the market for selling it improves in their local area. I have assisted several people in renting thier homes and buying another home.
In your case, I would strongly advise you to work with your lender and if you don't have a specific lender ask your realtor whom they would recommend. They will preapprove you and tell you what price home you would qualify for. Just because the homes solely in your husband's name doesn't mean he couldn't be on the next home. What matters is do you alone or do you together qualify for another house?

Generally unless you've been renting your house for a year you can't call that money income(but ask your lender about that because there are other exceptions). 

The best way to move forward is find a lender that's willing to work with you and go a step above others to find a way to get you (and maybe your husband) to qualify for another home. It's not impossible to do.

Make sure to tell your lender if you had an FHA loan too. That will be important information as to whether you qualify for another FHA loan or have to do a conventional loan.
The more information you share the better and quicker things get done.
Best wishes,
  • November 09 2011
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