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If you are married must a mortgage use both partners' credit or can it be in only one person's name?
Wiki User
∙ 18y ago
My wife and l bought a condo and it is in both our names but the loan is only in my name We just bought a house but the mortgage loan is only on my name. The title and deed is is both our names.
Wiki User
∙ 18y ago
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Which persons credit score is used when a recently married couple applies for a Mortgage?
the person with the lowest score
Whose credit score is used on a joint mortgage?
Both persons if it is applicable. In some cases a married couple will hold a joint mortgage but only the wage earner will have a credit score on record.
How does a persons credit score affect mortgage credit rates?
Actually the better the credit score the better are the offers for a mortgage credit loan. In general the interests offered for a new loan depend (besides others) directly on the credit score.
Do you need credit to take over a persons mortgage?
Yes. You would need to be approved by the bank and it would check your credit record.
Can someone who is on the home deed but not on the mortgage get a home equity line of credit?
The persons who are on title must both sign for a equity line of credit.
Which persons credit score is used when a recently married couple applies for a Mortgage?
the person with the lowest score
Whose credit score is used on a joint mortgage?
Both persons if it is applicable. In some cases a married couple will hold a joint mortgage but only the wage earner will have a credit score on record.
How does a persons credit score affect mortgage credit rates?
Actually the better the credit score the better are the offers for a mortgage credit loan. In general the interests offered for a new loan depend (besides others) directly on the credit score.
Is there a tax credit you can take for getting married?
There is no credit per se. However, the tax rates for married persons usually work out to less than for single persons.
Do you need credit to take over a persons mortgage?
Yes. You would need to be approved by the bank and it would check your credit record.
Can someone who is on the home deed but not on the mortgage get a home equity line of credit?
The persons who are on title must both sign for a equity line of credit.
What is the current interest rate on a fixed rate mortgage?
The interest on a fixed rate mortgage varies between 4% to 7% depending on several factors. The most important factor is the person's credit history. Persons with excellent credit history can get a very low fixed rate, persons with average credit history will get a higher rate. At the beginning of the mortgage, fixed rates generally are higher than variable rates.
Is my common law patner responsible for my debt?
Typically, in Alberta anyway, whether married or common-law, unless both persons' names are on the debt - i.e. joint mortgage, joint line of credit, joint credit card, etc. - the other party is NOT responsible for all or even half of the debt.
Which companies offer mortgages for persons with a bad credit?
There are a few ways for people with bad credit to get mortgages. The following companies offer mortgages for people with bad credit: E-Loan, MortgageCreditProblems, and Ameriquest Mortgage Company.
How can I get a mortgage with bad credit?
It is very difficult to get a mortgage with bad credit. You will probably first have to raise your credit score.
What effect does a credit score have on a mortgage?
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
When was Partners Federal Credit Union created?
Partners Federal Credit Union was created in 1968.
