What Fico Score is used for Married Couples?

[atd1970]

My partner and I are thinking of buying a home. My Fico scores are OK (EX 750, EQ 750, TU 773), but my partners scores are lower (EX 650, EQ 666, TU 670). My partner has a few collections that we are disputing.

So, if we apply for a joint mortgage, whose scores are used?

Additionally, if I apply on my own, can I still list my partners income as a source of income?

One more LOL, does filing Married Filing Separately make a difference? We have to do this because of student loan repayments.

Thanks for any answers.

[Anonymous]

The lowest of the two middle scores. Which is 666 for y'all.

[atd1970]

Thanks, so can I just apply for myself and not count my partners income?

[Anonymous]

If you apply alone, then only your income will count towards your DTI. If you are in a community property state and will be using a non-conventional loan, you might as well apply together seeing as your spouse's debt will be included regardless if they are on the application or not.

[atd1970]

In Ohio.

Crazy thing is, I pulled my partners credit, and it wasn't that bad. Most of the negs are medical collections. I know we can to a PFD on these. $50 here, $300 there, write a check, and nice letter, and they will remove.

I guess I just need to be patient.

[tallchick]

Are these your FICO or mortgage scores?? You may be be better off applying solo fwiw, they will take the lowest mortage score, at the end of the day you will have to decide if you need your partners income to afford your home or not. Also PFD for any collection is not guaranteed, you may call and ask if they will, but they are under no obligation to do so.  If you are going apply together I suggest your partner head over to the rebuilding forum and do some research on medical collections etc.... Good luck and keep us updated on your progress!!

[bdhu2001]

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@atd1970 wrote:

In Ohio.

Crazy thing is, I pulled my partners credit, and it wasn't that bad. Most of the negs are medical collections. I know we can to a PFD on these. $50 here, $300 there, write a check, and nice letter, and they will remove.

I guess I just need to be patient.

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Be sure to have your partner look at HiPAA rules for medical bills.  Research this site carefully.