Mortgage without husband

[StartingOver10]

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@DallasLoanGuy wrote:

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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

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Well, that explains it. We don't have any eligible USDA areas here - you have to go north to the next county or west to the middle of the everglades (I am exaggerating ) to get to a USDA eligible area.

We do have DPA type programs where HH income is used rather than just the borrowers' income. I was thinking of VA/FHA type or conventional loans. Sorry for my myopic rant 

[VALoanMaster]

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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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I do a lot of USDA loans & the non-working spouse has always been required to provide a letter stating they are not working & they do not plan to work anytime in the near future. It has nothing to do with the gender of who is working.