..as apposed to an engaged couple?
If so how much?
2007-01-31 16:25:23 · 6 answers · asked by causti1 2 in Business & Finance ➔ Renting & Real Estate
No - it is illegal to base interest rates on your relationship status. If you apply for a mortgage with your fiance/spouse/friend/parent the relationship doesn't matter. What is important is their credit score/history. They are considered a co-applicant and nothing more/less.
2007-01-31 16:30:20 · answer #1 · answered by greenshirt 2 · 2⤊ 0⤋
A good loan officer will run both of your credit reports and councel you as to what is best. A lot of times when a couple is married, some of their joint accounts show up togerher and if one has a few late pays they show up on the others report and theres nothing you can do. Being engaged, let him run your scores separately, if he feels one of you would benfit by adding the other to a few of their accounts (a trick to get your credit scores up kids) then do that! The key is finding a loan officer that has been in business for a long time and has a good reputation and understands how to do what's best for you.
So to answer your question..no it doesn't make it easier. But it might make the rates better! All depends on your history, debt and scores!
Hope this helped!
Vicki Watzlawick
Broker Owner
Exit Platinum Realty
www.vickisdreamhomes.com
2007-01-31 17:33:53 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Not so,everyone gets the rate offered. They can't discriminate. If someone you know got a better deal it may be due to a larger downpayment or may be bought in when rates were lower. They can't say ok you are married so you get a better deal or vice versa.
2007-01-31 16:35:18 · answer #3 · answered by meander 3 · 1⤊ 0⤋
That would depend on your spouses credit score. If it's high it will be better but if it's lower it could cause a higher intrest rate.
2007-01-31 16:30:15 · answer #4 · answered by Nette 5 · 1⤊ 0⤋
Your interest rate is based on your credit score, not marriage.
2007-01-31 16:28:40 · answer #5 · answered by RiverGirl 7 · 1⤊ 0⤋
probably...it makes everything else easier...it's financially tough being a single professional....
2007-01-31 16:33:10 · answer #6 · answered by Anonymous · 0⤊ 2⤋