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Need a new VA mortgage, can my wifes credit scores be used

we have joint credit cards ect. she is also going to be on the title (property,loan) she has higher credit scores then I do. Will the lender consider her credit scores to increase our overall credit scores?
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November 09 2013 - Brooksville
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If you are the veteran, then VA loans will need your credit scores for qualifying.  You can have your wife on the loan with you, but the lower of the two borrower's credit scores will ultimately be used. 

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November 12 2013
Your score should still work with lenders like myself. There also wouldn't be a big difference or help to you if we only looked at your wife's score. Either way, you should be good to go as long as your other finances are in place. It is important to understand that your ability to obtain a loan relies on other factors as well. These factors include your income, expenses, debt, assets, liabilities, employment, as well as credit score. I recommend that you speak with a lender like myself that would be happy to speak with you. Well I hope this helps, if you have any other questions or need a loan please contact me through the information on my profile page. I hope this helps and good luck!
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November 11 2013
FYI- credit score has little impact on rate for a VA loan so I would not over-think.  Are you above 620?
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November 10 2013
It will not help you get a better rate, but the overall credit scores of both clients go into qualification.  So, her score and income could help you qualify for a higher purchase price, but not a better rate.
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November 10 2013
The lower of the middle scores is used however the rates don't vary too much with a VA loan. The biggest fee is the funding fee. That's is based upon your previous use of VA funds.
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November 09 2013
Profile picture for jsmithnewy1981
Thank you that clears things up for me about qualifying scores I appreciate it very much.  
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November 09 2013
No, the lender will not consider her credit scores to increase your overall credit scores.  Your scores would be the one that is used in t his instance.  Her scores does not make your scores better.  
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November 09 2013
Profile picture for wetdawgs
Yes, you are correct.   The scores of the person with the lowest score will be used in the lending decision. 
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November 09 2013
Profile picture for jsmithnewy1981
So if my tri score is say 640 and her's is 720 they will only consider mine and not the tri score of our's combined ?
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November 09 2013
Lending guidelines require that the middle score of each borrower is used.  The lower of the two middle scores is the one that is counted, so unfortunately in your situation, that would be yours.  Some portfolio lenders have different policies, but that wouldn't apply with VA lending.  Good luck.
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November 09 2013
 
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