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If I get married with someone that has no credit...

Will her bad credit make me pay a much higher price for a house?

 

She does not have any credit cards and has never worked. I am not married and do not have a girlfriend. I just want to know what this is like.

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Re: If I get married with someone that has no credit...


JoshNurse wrote:

Will her bad credit make me pay a much higher price for a house?

 

She does not have any credit cards and has never worked. I am not married and do not have a girlfriend. I just want to know what this is like.


It will definitely impact you, unless you do not put her on any credit application. When it comes to a mortgage, they will most likely take the middle score of the person with the lesser credit score. That is at least how it worked for me in 2010. 




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Re: If I get married with someone that has no credit...

A girl I like has never worked in her life and has no credit cards. :smileysad:

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Re: If I get married with someone that has no credit...


JoshNurse wrote:

A girl I like has never worked in her life and has no credit cards. :smileysad:


Sounds to me like you are in the perfect situation to guide her in the right direction from the start. Many of us here would kill for that opportunity. Plus, it could be a good talking point to get to know her better. Let's say, dinner and credit counseling? :smileyvery-happy:




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Re: If I get married with someone that has no credit...

[ Edited ]

JoshNurse wrote:

Will her bad credit make me pay a much higher price for a house?

 

She does not have any credit cards and has never worked. I am not married and do not have a girlfriend. I just want to know what this is like.


Now is the time to start helping to improve her credit before applying for the loan....Question 

You stated she has bad credit.....Do you mean she has baddies or she has no credit at all due to not working because if she has no baddies her credit can be improved quickly by adding her as AU. 

 

Edit 

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Re: If I get married with someone that has no credit...

No baddies just no credit at all.

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Re: If I get married with someone that has no credit...

[ Edited ]

JoshNurse wrote:

No baddies just no credit at all.


Add her as AU to your cards and six months from now she'll at least have some scores However Fico 08 IIRC does not count AU's but this is a good start for her to build credit

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Re: If I get married with someone that has no credit...


JoshNurse wrote:

Will her bad credit make me pay a much higher price for a house?


No credit isn't bad credit (the latter would include derogs).  Price isn't affected by credit.  Financing is.  Including her with no credit on your mortgage will probably result in less favorable financing.  If you can qualify on your own then terms may be better.  However, you could take steps to build her credit.

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Re: If I get married with someone that has no credit...

OP, adding her as an AU and having her open a few cards should give her a decent score after 2 years. I'm at my current scores having started January of last year so if you play your cards right, she could end up with good scores and then you would hypothetically get the best terms
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Re: If I get married with someone that has no credit...


myjourney wrote:

JoshNurse wrote:

Will her bad credit make me pay a much higher price for a house?

 

She does not have any credit cards and has never worked. I am not married and do not have a girlfriend. I just want to know what this is like.


Now is the time to start helping to improve her credit before applying for the loan....Question 

You stated she has bad credit.....Do you mean she has baddies or she has no credit at all due to not working because if she has no baddies her credit can be improved quickly by adding her as AU. 

 

Edit 


Now is the time, and by all means help her, but don't worry about it for yourself if you're not already planning on a life together. 

 

I'm on the flip side, by the way; my fiancee has great credit, but mine is only "fair to good." My goal is to have it excellent by the time we buy a house together. These are relationship things worth talking about, but down the line!


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