Re: Shared Mortgage and FICO Scores
07-21-2007 05:57 PM
Sorry about the double post...
Back to the example:
Husband has the following scores ==> 723 698 731 Score used is 723
Wife has the following ==> 802 805 798 Score used is 802
Most A paper lenders will then take the lower of the 2 middle scores... in this case 723.
There are, however, programs (usually subprime) that will use the score of the Primary Borrower (Earns over 50% of the income) and some that use the higher of the 2 scores regardless of income.