Mortgage without husband

[Anonymous]

I've been married for 12 years, but my husband has no credit aside from defaulted student loans. Can I get a USDA  loan without him? I don't care if he's on the deed, I just don't want his credit used for mortgage purposes.

BTW, we live in Minnesota - a non-marital-property state.

[FroggieMom]

This may be a question better placed in Mortgage loans but,  I would tend to say Yes, as long as Minnesota is not a community property state you can get a mortgage solely in your name.  It may be a lender discretion thing too, some lenders may want the spouse on the loan regardless.

[Anonymous]

To the best of my knowledge Minnesota is NOT a community property state. However, your lenders may need to weigh in. As was mentioned, since you are married the lenders may have questions?!

[kc0039]

Yes you can get a mortgage loan. His income will be added to make sure that you don't go over the income cap, but his income won't be used for qualifying income.

[Anonymous]

So, if he is a house husband, and has no income, we're all good?

[VALoanMaster]

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@Anonymous wrote:

So, if he is a house husband, and has no income, we're all good?

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Yes

[kc0039]

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@Anonymous wrote:

So, if he is a house husband, and has no income, we're all good?

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Yes. Just make him sign a letter stating that he has currently no source of income if your lender questions it

[StartingOver10]

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@kc0039 wrote:

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@Anonymous wrote:

So, if he is a house husband, and has no income, we're all good?

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Yes. Just make him sign a letter stating that he has currently no source of income if your lender questions it

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Why in the world would a lender question it?

I have buyers all the time where one spouse is on the mortgage and the other isn't and there is never a question and never a LOE.  And, yes, it is just as common (today) for the female to be the one that has the income and the credit and the male spouse not to be on the loan. If such a letter were required, I would think that asking for that letter is getting awfully close to gender bias.  

[kc0039]

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@StartingOver10 wrote:

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@kc0039 wrote:

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@Anonymous wrote:

So, if he is a house husband, and has no income, we're all good?

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Yes. Just make him sign a letter stating that he has currently no source of income if your lender questions it

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Why in the world would a lender question it?

I have buyers all the time where one spouse is on the mortgage and the other isn't and there is never a question and never a LOE.  And, yes, it is just as common (today) for the female to be the one that has the income and the credit and the male spouse not to be on the loan. If such a letter were required, I would think that asking for that letter is getting awfully close to gender bias.  

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Not a gender bias. Different lenders, different overlays. I have had taken other clients from other competition with government loans and DPA program loans and they provide those to me. I don't question their honesty with me, especially when it comes to lowering income.

[DallasLoanGuy]

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@StartingOver10 wrote:

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Why in the world would a lender question it?

I have buyers all the time where one spouse is on the mortgage and the other isn't and there is never a question and never a LOE.  And, yes, it is just as common (today) for the female to be the one that has the income and the credit and the male spouse not to be on the loan. If such a letter were required, I would think that asking for that letter is getting awfully close to gender bias.  

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usda has 'household income' limits.... they have to question the spouse about income. 

no bias. would be the same if the husband tried to get a loan without wife