Mortgage Loan with a non-borrowing spouse.

[khw]

Hello everyone! 

My husband and I in the process of selling our house and we are trying to get an idea of what we will be able to afford buy in another home. We are in the state of Virginia and we are hoping to do an FHA loan with just my husband on the loan, I am currently a full time nursing student and we don't want my deferred student loans to count towards his DTI.  My credit is actually really good, but I just don't have income right now to offset a deferred loan payment. I have been searching and found all kinds of conflicting info, but from what I can understand FHA only counts the debts of a non-borrowing spouse in a community property state, and from what can I find online Virginia is NOT a community property state, I am not a native of Virginia but I had always thought it was. Is this true? I have read that even though FHA doesn't require it most banks will not matter what state, but some of the info I found was very outdated and I know mortgage laws have changed a ton in recent years. Also is it still true that most conventional loans do not take in to account the spouses debts? I think this could be an option if we could find one with 5% down, which is what we did on our last house (we were both on the loan then) but I have no idea if 5% down loans still exist.

We will be meeting with our loan officer next week to see what we can pre-qualify for, so I know all my questions will be answered in detail then, but I am impatient and hoping I can get some info now Thanks in advance! 

[webhopper]

I did a mortgage refi of my rental property as a married person in a non community property state.

They never asked me for any info on my husband at all, just his name. He did have to sign an acknowledgement but he wasn't on the mortgage or the title

[khw]

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@webhopper wrote:
I did a mortgage refi of my rental property as a married person in a non community property state.

They never asked me for any info on my husband at all, just his name. He did have to sign an acknowledgement but he wasn't on the mortgage or the title

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Thanks so much, I hope this winds up being the case for us too! I also learned here tonight that FHA doesn't include 401k loan repayments in DTI, I had no idea that was true and I have been including that in our DTI, so even with my loans I think we would still be in our taget price range! Good news! 

[tooleman694]

If you are not in a community property state then you can do it. When I did my loan in a community property state they counted all of her debt against mine which made for a really high DTI.