0
If you apply for a mortgage loan can you put your husbands income on the application also even if he is not applying for the loan with you?
Wiki User
∙ 14y ago
You can use income that is at your disposal. If you will have access to your husband's income as a household income for this mortgage then yes you can. If you are separated and he will not be living in the house then the answer would be no.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Why do mortgage companies request bank statement?
Mortgage Company Application RulesIt's one of the only sure ways they can determine an indiviudal's cash flow. In other words, how is he/she spending income and how much income is the individual actually receiving? Typically, this is mandatory in cases where the person who is applying for a mortgage can not show a W-2 from previous years or is self employed.
Does a timeshare have to be included in your debt to income ratio when applying for a mortgage?
If you have a monthly payment, then the amount needs to be included. The lender is doing this so that they know you have the money to pay the mortgage, and that you are not financially overextended.
What information is often requested on a mortgage application form?
Some of the information that is often request on a mortgage application form are: Proof of income, savings information, debt information, a copy of one's photo I.D, and many other documents as well.
Does the mortgage company verify your income?
Yes the mortgage company verifies income.
Where can one apply for a loan online?
You can apply online for a loan at Bank of America, Wells Fargo Bank and Lending Club. You will need to have available when you are applying, your Social Security Number, Drivers License Number, Yearly Income and Monthly Mortgage or Rent Payment Amount to fill out the application.
Why do mortgage companies request bank statement?
Mortgage Company Application RulesIt's one of the only sure ways they can determine an indiviudal's cash flow. In other words, how is he/she spending income and how much income is the individual actually receiving? Typically, this is mandatory in cases where the person who is applying for a mortgage can not show a W-2 from previous years or is self employed.
What are some types of mortgage fraud?
There are many types of mortgage fraud. One of the most common is not putting correct information on the mortgage application such as current income.
Does a timeshare have to be included in your debt to income ratio when applying for a mortgage?
If you have a monthly payment, then the amount needs to be included. The lender is doing this so that they know you have the money to pay the mortgage, and that you are not financially overextended.
What information is often requested on a mortgage application form?
Some of the information that is often request on a mortgage application form are: Proof of income, savings information, debt information, a copy of one's photo I.D, and many other documents as well.
When applying for a mortgage how much credit towards your income do you get for rental income?
Some lenders used to give you credit for 75% of your rental income to show as income on your application. The secondary market has been getting more stringent in the past year with giving credit for income. The lender/underwriter will need to see your complete federal tax return and analyze Schedule E on your rental properties to determine the amount of income actually derived from the rental properties.
Does ex wife husbands income lower child support in ca?
husbands income does not count and is irrelevant
Does the mortgage company verify your income?
Yes the mortgage company verifies income.
Where can one apply for a loan online?
You can apply online for a loan at Bank of America, Wells Fargo Bank and Lending Club. You will need to have available when you are applying, your Social Security Number, Drivers License Number, Yearly Income and Monthly Mortgage or Rent Payment Amount to fill out the application.
Can they base a mortgage on two separate incomes living in the home?
Absolutely. The income of any person living in a home can be used for mortgage approval as long as they are on the application and the income is verifiable. There are even instances where a non-occupying co-borrower's income can be used (this varies by loan program). Source: I'm a loan officer.
Will bad credit rating of your spouse affect your qualification for a mortgage?
Not if you don't use your spouse on the application as a co applicant or "additional income". If you don't need their income, then leave them off and no, it should not affect.
Mortgage Required Income?
Mortgage Required Income What income is required to qualify for a mortgage? That largely depends on your monthly debt payments and the current interest rate. This calculator collects these important variables and determines your required income to qualify for your desired mortgage amount.
Can I get a mortgage in my name using my live-in boyfriend's income?
No. In order to obtain a mortgage in your name, you have to prove that you, as the mortgage holder, will be able to pay the mortgage yourself. The banks do not consider a live-in boyfriend's income a reliable source of income for yourself, nor can they hold him responsible for payment if the mortgage is in your name. You will have to get the mortgage based on your income, unless you and he put the mortgage in both names, using both of your incomes.
