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Will my husband's short sale affect me getting a home loan in MI. I was never on the mortgage.

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February 20 2013 - Grosse Pointe
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If you qualify with just your income you can simply obtain the loan yourself.  In that case his credit rating will have no bearing on the loan. Good luck to you!
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March 12 2013
No if you alone have enough income he does not need to be on the application
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February 20 2013
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Yes I can qualify by myself without his income.

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February 20 2013

It's up to your financial situation. As others suggested, it would be a good idea for you to talk with a loan officer since most banks do follow Fannie guielines. I beleive that you shold be able to if you can qualify for the loan alone. If not, there is a wait period. There are lenders who will give you loans right after short sale if you have 20% down.

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February 20 2013
The shorter answer is that if you and your husband are applying for a loan, while "No" it doesn't drop your credit, the long answer is maybe "Yes" if your husband is on the mortgage and you have to have his income and it drops his credit.  But, it also matters how the short sale was reported and how long it's been, etc.   


The best way to proceed is to find a local mortgage broker and contact them.  Be open and honest up front and they will know how to structure the application or direct you to the appropriate loan avenue.  If you can't get a mortgage now, they will guide you on what to do to enable a mortgage in the future. 

Best of luck-  debi

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February 20 2013
Straight answer: No

There are many other things that could effect you getting a home loan. In which case Ofe Polack's advice is good.
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February 20 2013
I suggest that you discuss this issue with a mortgage broker.  Since we do not know if you could purchase a home based on your own credit.
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February 20 2013
If not on the mortgage then it should not unless he is also on your new mortgage.
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February 20 2013
 
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