Do banks care if your spouse doesn’t have good credit?

The answer is: Probably not.

If you are the lucky one who has good credit and you are applying for a “regular home loan” by yourself, everything is fine. Banks are not required to review your spouse credit. And please don’t go out your way to tell them the reason why you are applying alone.

However, if you are applying for FHA financing, HUD require banks to review spouse credit if the house that you are buying (or refinancing) is located in a community states. That includes Arizona , California , Idaho , Louisiana , Nevada , New Mexico , Texas , Washington , Wisconsin and Puerto Rico. We do not care if he/she has bad credits, but we are required to include their debts in order to review your overall ability to pay back the loan.

3 thoughts on “Do banks care if your spouse doesn’t have good credit?

  1. Aurelio Sophy on

    One thing I’ve noticed is the fact that there are plenty of misguided beliefs regarding the banks intentions when talking about foreclosure. One delusion in particular is the fact the bank would like your house. The financial institution wants your hard earned dollars, not your property. They want the bucks they loaned you together with interest. Preventing the bank is only going to draw a new foreclosed realization. Thanks for your publication.

  2. Kathleen Sylvia on

    Thanks for another greet post. Keep rocking.

  3. A Fan on

    Thanks for that awesome posting. It saved MUCH time 🙂

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