I want to marry someone but this persons credit is awful,Mine is good I want to buy a home and I worry that her credit will prevent that if we marry is this true??
2007-11-17 07:23:01 · 6 answers · asked by DudeeE! 2 in Business & Finance ➔ Credit
Her credit will not affect yours in any way.
The only way hers would even come into play is if you two apply for something jointly, then you would most likely get a higher interest rate because of her bad credit.
Even then the way that loan would affect you would be based on how it's paid. Paid as agreed you both win, paid not as agreed, you both lose.
2007-11-17 07:32:40 · answer #1 · answered by ? 7 · 4⤊ 0⤋
been there LOL, ok i have a great credit score 720. However my wife has awful credit score but she makes 2x my income. we bought a house and my 50k a year was not good enough so we had to use her income and using her income her credit score. Therefore we got a SUB PRIME mortgage. "lame" she had two charge offs one 200 dollars and one 320 dollars. seem like it was 20k to the freak-in back. Anyhow we got to refinance with my income only a year ago. YOU must be careful, seems like mortgage companies will f-u over.
good luck to you!\
oh if you do get married and you both go in and buy a house she can be listed on the title, and you just on the mortgage. Just in case something happens to you she will assume full ownership.
2007-11-17 11:02:52 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Spifiman is correct in saying the only time her credit will affect you is when you apply for credit "jointly"
2007-11-17 07:47:32 · answer #3 · answered by echo 7 · 3⤊ 0⤋
If you can afford a house on your own you may not need her to co-sign the promissory note. Until she improves her credit( does she have intentions?) don't you become a co-signor on any debt she may incur.
2007-11-17 10:27:50 · answer #4 · answered by #### 1 · 0⤊ 0⤋
Have to agree with Spifiman.
2007-11-17 09:08:26 · answer #5 · answered by STEPHANE O 6 · 0⤊ 0⤋
Spifiman is correct once again.
2007-11-17 07:58:20 · answer #6 · answered by rockman1091953 6 · 1⤊ 0⤋
Yes ! Her credit will drag you down and cost you ALOT more money to buy things. (Interests rates will be higher!). When you marry, they will look at you as a (financial) team, not as an individual buyer anymore.
2007-11-17 07:33:05 · answer #7 · answered by Anonymous · 0⤊ 4⤋