Whos credit score will be used?

[cha04039]

I have read a couple of sites that say the lowest mid score between my husband and i will be used but i have also read that it is the mid-score from the highest paycheck. Just trying to decide if I should apply without him since my scores are mid-high 600s and his are mid to high 500s. I make more than he does as well so if I could have him on the application but they look at my credit score that would be ideal but if they would look at his score, im thinking applying alone would be best.

[Adalen]

If his scores do not qualify, then he cannot be on the loan.  Depending on where you live, his debts may still count against you.

[cha04039]

I live in Alabama. How would I find out if his debts count against me?

[Adalen]

If you live in a community property state, then they'll count his debts.  I don't think Alabama is one of them.  Also, I'm not at all well-versed in marriage law, so perhaps someone can answer up with more accurate information.

[foofighter74]

Alabama is not a community property state.  you should be fine on that issue.

[Ron6262]

  On our FHA loan they used my mid score.  My fiance is 770 mid, I was 640, they used mine.  My pay checks over quadruple hers and I have the down and a current home, didnt matter, they used mine.  LO said they use mid of the lower party.

[violetsmom]

I was told by my LO that the lower of the two mid scores are used, the size of the paycheck has nothing to do with it.

[mauve]

Basically, if his scores don't qualify, he can't be on the loan. Either work on his scores or you have to do the loan yourself. His salary won't count if he's not on the loan.

[Ron6262]

  Exactly as I was told.

[mauve]

The rebuilding board is good for helping you figure out how to get both of your scores up.

Do either / both of you have lates in the last 2 years? What's your utilization like? What's the worst thing on your report, and how recent is it?