No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
You should be good to go if you are not using your spouse's income for qualification purposes and you are a W2 employee as you stated.
They will want to verify your past income and your income tax account for a couple years though.
Agree with prior post with an exception If you are living in what's called a "community property state", then you must include your spouse on the application (something about assets and debts being equally owned). Those states are Arizona, California, Idaho, Nevada, New Mexico, Wisconsin, Washington, Texas and Louisiana.
@Anonymous wrote:Agree with prior post with an exception If you are living in what's called a "community property state", then you must include your spouse on the application (something about assets and debts being equally owned). Those states are Arizona, California, Idaho, Nevada, New Mexico, Wisconsin, Washington, Texas and Louisiana.
The above post is true, but for ONLY for Government loans, (FHA,VA,USDA) Conventional loans do not require spousal debts it be included, even in Community Property states.
Thanks,
@Anonymous wrote:
If you're applying for a mortgage do they look at your prior years tax returns if you are employed and have a w2? Or do they just look at current income?
My husband is self employed but I'm not. I'm trying to get a mortgage in my name only. We do file joint returns every year but his income has been very low past couple of years so don't want him on the mortgage application. Please advice.
Even with low income, it helps. As long as the cash flow is positive. Are you part owner of the business as well? If you are, they're going to count business income as well.
@Anonymous wrote:
Thanks everyone for responding. I do live in Texas and trying to apply for FHA.
Hi Homebound18,
Since you are here in Texas & you're trying to go FHA, your husband's individual debts have to be counted against your income so you may need to add your husband to the loan.
The best thing you can do is have lender look over everything to see what your options are.
Please feel free to PM me for help.