We are in the process of applying for a mortgage and wish to apply only in my husband's name b/c I don't work and we don't want my debt to be included. Is this possible? The person that my husband spoke with over the phone said it was fine but I just want to make sure that further along in the process they do not all of the sudden ask about my debt, as well. If anyone has an answer or can shed some light on this I'd appreciate it. Thanks.
Yes you can just get the mortgage in your husband's name as long as his income supports it. You can also look into how you can have your name added to the deed.
The only problem would be the fact that you would be considered a dependent which could affect his debt to income ratio... Kev
Thanks everyone but I'm still confused He isn't a cosigner on any of my debt. I'm confused about the dependent thing though????? Also, does it depend on whether it is a conventional or fha?
The mortgage on this house is in Hubbys name only. It does not matter what kind of mortgage it is. As long as he has the income and a decent FICO then you will be fine. I am not sure what he means by dependants, I don't think that was ever a factor in our mortgage. I believe for our FHA our monthly payment had to be less then 29% (about 1208 for 50,000 a year income). Hope that helps.
