Refinancing Home Mortgage
In: Mortgage Lending
25 Apr 2010(due to credit score issues) I need to find an institution that will do a mortgage under just ONE of our names, but using BOTH of our incomes for a property in South Carolina.
This is about mortgage information questions.
4 Responses to Does anyone know of a lending institution that will allow you to get a mortgage under one spouses name ONLY. . ?
reenzz
April 25th, 2010 at 5:20 pm
No…if you want to rely on both incomes, then both names must be on the mortgage. If your spouse can afford the mortgage without your income, then yes…he/she can be on the mortgage solely.
chatsplas@sbcglobal.net
April 25th, 2010 at 6:16 pm
. . .not going to happen in this more stringent underwriting environment. . .
suggest waiting 6 months and working hard to repair credit. . . paying all bills on time, paying down balances, etc.
CarlisleGirl
April 25th, 2010 at 7:07 pm
Not realistic. Put yourself in the position of the lender and you will understand why.
terlynn_1370
April 25th, 2010 at 7:20 pm
Any lending institution should let you do it under one name. However, if you want both incomes to be included, you’ll have to have your spouse on there too (unless they have a spot for “other income” that doesn’t make you list who/where it comes from).