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First time homebuyer

New Member

First time homebuyer

My husband and I are trying to buy our first home and since its not something we were planning on doing for another year we're a little (lot) unprepared. I've been scouring the Internet to find the answers to my questions but it seems like everything I find just raises more questions!

First of all I think we may have already messed up. We both signed a purchase contract but then decided we only wanted him on the loan (his credit is much better than mine). Can this be fixed without too much trouble?

Also the banker we talked to recommended using a USDA loan and I know they have to verify this for both spouse even if they're not on the loan. How is his done?

Since I won't be the one borrowing money is my credit pulled and do they check my name against CAIVRS? I just want to know what to expect.

I know that every state can be different so if it helps we're purchasing in Iowa. Not a community property state.

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