cancel
Showing results for 
Search instead for 
Did you mean: 

What are the laws regarding a non purchasing spouse for conventional

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Valued Member

What are the laws regarding a non purchasing spouse for conventional

I live in a community property state and plan to apply for a conventional mortgage loan.
Can anyone tell me if a non borrowing spouse assets, debts or income are considered?
Message 1 of 4
3 REPLIES 3
New Contributor

Re: What are the laws regarding a non purchasing spouse for conventional

 I also live in a community property state and just refinanced to a conventional mortgage. Whether refinancing or buying a home, if your spouse is not on the mortgage application, none of his assets, income, debt, or credit will be considered. 

If you want or need to add his income to qualify for the mortgage, all of the above will be considered. 

Message 2 of 4
Valued Member

Re: What are the laws regarding a non purchasing spouse for conventional

Thanks for the reply
Message 3 of 4
Super Contributor

Re: What are the laws regarding a non purchasing spouse for conventional


@LB2484 wrote:
I live in a community property state and plan to apply for a conventional mortgage loan.
Can anyone tell me if a non borrowing spouse assets, debts or income are considered?

income = no

debts = no (on conventional, yes on govt loans)

assets = yes

 

 

Retired Lender
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.