My husband's gross pay is $64,200 but his credit isn't good due to defaulted student loans that he is now paying, so I'm trying to get a loan with just my name, so I know his information is irrelevant. We have one child living at home.
your best bet will be to use a mortgage affordability calculator. because you have to count both car loans, that is limiting the purchase amount.
If you have documentation (bank statements or cancelled checks) stating that your husband has been paying the $460 car note in full on his own for the past 12 months you may not have to count that against your DTI.
Really?! That is interesting. Is that a widespread rule or lender specific? I ask because when we were in the mortgage process, our LO never said we could do that...and we were considering going letting just one of us qualify.
Might not this depend on whether you live in a community property state?
Just conjecturing, no knowledge either way!