Re: Shared Mortgage and FICO Scores
07-23-2007 03:01 PM
78Mommy wrote:I'm new to all of this. We're finally ready to buy a house. How do FICO scores work for the married couple? Do they simply take an average when getting approved for the mortgage?
There are mortgage products that consider all 6 FICOs--even if only one spouse is working. Not sure if they are using a median or a mean, and there might be products which use either.