fudosoul asked:
my wife and i are both in the title deed for home. we want to get a heloc or loan but my credit score is bringing our score down. her score is a lot higher than mine – can she get the heloc or loan on her own?
Dennis
my wife and i are both in the title deed for home. we want to get a heloc or loan but my credit score is bringing our score down. her score is a lot higher than mine – can she get the heloc or loan on her own?
Dennis
Bobby
If you are both working they will go by the person making more money as the primary credit score. Since you are both on the house title one of you can’t do it alone.
Comment by Francis P — October 24, 2009 @ 11:42 am
Eileen
For a heloc, most banks will use the lower of your middle scores. Although some banks only pull from one credit bureau. If your wife makes enough money, just put only her on the loan. Otherwise, it might make sense to just do a cash out refinance of your first mortgage. The guidelines are a little easier. With the way the market has been lately, banks are really tightening up on helocs. Good luck.
Comment by frankie77 — October 26, 2009 @ 5:44 am