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Looking to buy a house. wife makes the money i have the credit

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Anonymous
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Looking to buy a house. wife makes the money i have the credit

So me and my wife are looking to buy a house in a year or so. She makes the income around 55k a year 8 years on the job, 500's credit score we are working on. I take care of the kids and have low 700's credit but no income. when buying a house can they take her income and use my credit score? I am very new to all this so if its a silly question just tell me.  we are thinking around 130k for a house around the area where we want to get it.

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StartingOver10
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Re: Looking to buy a house. wife makes the money i have the credit

No. The lender will use the lowest mid score for each of you. Since you are married, you can apply together and use household income, but still the lender will use the lowest mid-score.

 

Work on your wife's score. Have you visited the rebuilding section here on MyFICO? You can get some good tips there.

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