topic Spouse Application rules in community property state? in Mortgage Loans

Spouse Application rules in community property state?

Anonymous — Sat, 03 Mar 2018 19:41:28 GMT

We live in TX, community property state. Is it possible for DH to apply for a mortgage without me? I think I’ve read that my debts will be considered as his, but would my income also be considered?

Re: Spouse Application rules in community property state?

H-B — Sun, 04 Mar 2018 22:29:58 GMT

Under FHA loss and debts will be consider but not under conventional loan.

Re: Spouse Application rules in community property state?

Anonymous — Tue, 06 Mar 2018 05:37:04 GMT

Do you both have income?

Do you know your credit scores?

FHA (580 credit score minimum) loan requires that the debts of a spouse be counted in DTI.

CONV (620 credit score required) loan does not require the debts of a spouse to be counted in DTI. Although, if you want to include income from both you have to count debts for both.