Couple, FICO Scores, Home Loans
10-09-2007 09:58 PM
If you are an unmarried couple buying a home, do all lenders use one individual's FICO score to in effect "set" your loan interest rate? More specifically, when our three credit reports were pulled, my middle score of the three reports was in the upper 700s and my significant other's middle FICO score was just below 700. We were told that his middle score (the lower middle score from the two home buying partners) must be used to set our interest rate rather than say my scores or an average of his scores/my scores. Do all lenders follow this same procedure or should we be looking for a lender who will consider both scores/are there lenders that would consider both scores?