If husband has average score 750 and wife has average score 650, is it better to apply seperately for auto or home loan to get a better rate. I think lower score one will pull down higher one's rating if applied jointly considering same income, any thoughts or experience ?
I don't know about auto loans, but with a home loan, they are probably going to go with the middle score of the primary wage earner. If you make more money than your wife, her scores will not pull you down.
David1 I can't comment on auto loans, but I can say that BOTH scores will be taken into account when applying for a mortgage, though both are high enough to qualify. If higher score can qualify for a mortgage on own income, then it would be better to qualify that way. The other spouse can still be put on the deed, but will not be part of the mortgage that way. fla-tan
I respectfully disagree -- in this particular situation, if the Mr. is the PWE, his wife's score should not affect their choice of program or the rate they get.
