should/can I include my girlfriend with verpoor credit but high gross monly income on my application

[Sk323i]

My FICO 8 score: 640

My gross monthly income is 3995.00

$5000 in credit debt - util is at 50%

0 expenses otherwise. 

I file taxes as head of household.

My girlfriend score: 545

Has 2 bad charged off un-settled revolving credit debt nearing 7 years old approx 6000 total. 

monthly gross income in 2014 and 2015 was $4200+

0 expenses otherwise. 

She files single on her taxes. 

Can I include her on my mortgage application in some way -- or do we have to be married?

Does it help or hurt my application to include her?

Her monthly income does generally almost 90-100% contribute to my household finances. We do not always utilize our shared bank account. Generally both of our checking and savings balance out to less than $1000 after all bills are paid. 

I assume if we can include her tax returns from the last 2 years which show her income -- we can prove we have the ability to gross high enough income to pre-qualify for a high amount than I would on my own.

Is that correct -- or does her very poor un-settled credit hurt my application over all -- especially since I dont have the best/good credit either.  

[Anonymous]

Depending on the house you choose, you may be able to go the FHA route, which would allow lenders to disregard her charge-offs. Not all lenders will, but FHA does not require that charge-offs be paid.

Get yours and her mortgage scores. 545 is low, you'll have a hard time finding a lender to go that low, and you'll have to put down 10% instead of 3.5%. Her mortgage scores may be significantly higher, depending on what is causing her score to drop so low. If you can get her score up over 580, the higher the better, you can definitely include her on the loan. There's no rule that two people have to be married or related in any way to purchase a home together. You just have to both live in it as your primary residence.

My suggestion - have a trusted lender pull credit, get your scores, and ask what needs to be done to ensure both of you are eligible for a loan.

[IOBA]

Lenders typically base the interest rate on the lowest person's middle credit score.   DH has lower credit scores than, but he has the paycheck income.  So we just put the mortgage in his name, but we are both on deed.  Being on the deed does NOT affect the credit score.

ProfGoGetter has said - it will be tough to find someone to lend with gf's scores so low.

On another note - can you afford the mortage yourself?  What happens if you guys split up?  Maybe consider getting the mortgage (and the deed) in your name only.  Then if there is a split up, it's one less thing to worry about.  GF would have to pay rent and utilities somewhere anyway.  So maybe she contributes half the payment into a separate account? Or she pays utilities and you pay the mortgage?  Or she pays off her old debt?  Maybe after her credit is cleaner, you refinance and add her to the mortgage?  So many possibilities...  but based on what you said, you would probably get a better rate, a better deal, if the mortgage was in your name only right now.

How are you coming up with the down payment and the closing costs?

[Sk323i]

downpayment and closing costs will be given to me as a gift from my parents -- fortunately. 

Looking for a house still -- about 1 acre in Arizona, new constructions for around 250K. Hopefully I get accapted to ASU in the next couple of weeks, and can really move to make an offer on a couple places that I've been looking at. 

[IOBA]

If your parents are gifting you with the down payment and the closing costs, seriously consider putting the mortgage and the deed in your name only.

Things can be changed later...but it seems unfair to gift your gf - who hasn't taken care of her credit the last few years - with the gift of instant equity.  Equity can equal cash.  Cash buys choices.

[Anonymous]

I forgot to mention - 

It's a TERRIBLE NO GOOD VERY BAD idea to put someone you are not married to on a mortgage. Family, girlfriends, lifetime friends... terrible.