If I have good credit and my wife has good credit , but its limited, will hers hurt us getting a mortgage?

She has a very limited credit history, what she does have is good, but her entire history is only a year old.If I have good credit and my wife has good credit , but its limited, will hers hurt us getting a mortgage?
They are looking for the amount of income that will be available to to cover the family bills plus the new mortgage payment. If she is working it will help.. If she is not working %26amp; some credit cards or bills are in her name ONLY it will hurt. If both names are on the mortgage won't matter.If I have good credit and my wife has good credit , but its limited, will hers hurt us getting a mortgage?
It can still be used to strengthen the loan file, but it sounds like qualifying will be based on your credit. Lenders want to see 5+ tradelines that have been open for at least 24 months. sit down with your loan officer and determine the best strategy for submitting your loan package. It may be best to have your wife on Title only. http://www.choicefinance.net/
Unless she has bad credit, it should have no effect if you are the primary wage earner (make the most money). Some lenders however require the co-borrower to have a minimum credit score. If you run into any problems, get an FHA mortgage. They have good rates and credit score (for either borrower) is Not a consideration. Putting her on the mortgage will go a long ways to help her establish credit. Good luck.


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