Does anyone know of a lending institution that will allow you to get a mortgage under one spouses name ONLY..?

Question

(due to credit score issues) I need to find an institution that will do a mortgage under just ONE of our names, but using BOTH of our incomes for a property in South Carolina.

Answer 1

No...if you want to rely on both incomes, then both names must be on the mortgage.  If your spouse can afford the mortgage without your income, then yes...he/she can be on the mortgage solely.

Answer 2

Not realistic.  Put yourself in the position of the lender and you will understand why.

Answer 3

. . .not going to happen in this more stringent underwriting environment. . .

suggest waiting 6 months and working hard to repair credit. . . paying all bills on time, paying down balances, etc.

Answer 4

Any lending institution should let you do it under one name.  However, if you want both incomes to be included, you'll have to have your spouse on there too (unless they have a spot for "other income" that doesn't make you list who/where it comes from).