I have been told this comes under some scrutiny. Here's my situation: My husband has "poor" credit and is a stay at home dad with some side work (unreliable income). I have "fair" credit and work full-time (reliable income). The LO I initially spoke with said there was no reason to put him on the loan since his sporadic income wouldn't outweigh the negatives of his FICO.
He received a fantastic opportunity for a short-term project which will be funding a portion of our down payment, basically taking us from the required 3.5% to nearly 7% (goal of a $175,000 home).
Since my husband will not be on the loan, will the source of the funds be a problem?
