cancel
Showing results for 
Search instead for 
Did you mean: 

USDA Mortgage Loan using spouses income but not credit

tag
Anonymous
Not applicable

Re: USDA Mortgage Loan using spouses income but not credit

My wife is in the title but NOT on the loan. They did have her document that she is not working and will not be looking for work anytime soon. Her credit was never even looked at. USDA is different, very different as I said before.
Message 21 of 23
Anonymous
Not applicable

Re: USDA Mortgage Loan using spouses income but not credit

Now I'm confused again. The lender here in Mississippi specializes in USDA loans. I will call another one tomorrow. The whole reason I asked this question is because I read on numerous outlets that it is possible to count income of all household members but not use their credit. I guess I'm back to square one. But I DO know for sure about FRED. We just submitted our application through quicken loans. (Its their 1% down loan). Hope all goes well.
Message 22 of 23
VALoanMaster
Valued Contributor

Re: USDA Mortgage Loan using spouses income but not credit


@Anonymous wrote:
Yes, he said we all would have to be on the note. But my debt and my mother's debt would not be considered.

If you are on the note, you are on the loan which means your credit & debts are included. You can be on the deed & not have your credit & debts considered but your income & that of your mother would not be counted unless you're on the note.

VA Mortgage Expert. Mortgage Banker lending in All 50 States.
VA, FHA, USDA. Jumbo, Conventional.
CAIVRS Expert.
Message 23 of 23
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.