Fiance has excellent credit but I don't...how will this affect buying a house together?

Question

He already owns a townhouse but after we get married we would like to buy a detached home.

Will my bad credit make it difficult to buy a home together? Or since he already has a home, will it not be a problem?

What are some issues we might face when buying a home due to my bad credit. ( I have been working really hard for the past year to improve my score).

Answer 1

You fiance will probably have to apply by himself.  The lenders will use the lower of the two middle scores and in these days of tight underwriting requirements, a low score will either stick you with a high rate or be a flat out decline.  It sounds like you have some time, keep working on your credit and make it happen for yourself

Answer 2

Yes because the lenders use the LOWEST score of the two borrowers to determine program guidelines and interest rate...not the highest.