Hi my husband and I are trying to buy a house the only problem is that I have a bad Credit score and his credit is excellent plus he's in the military and could get a loan. Can he get the loan through the military under his name only? or will it affect him if I have a bad credit score?|||It really depends on how much the house you're looking to buy costs and your husband's income. If your husband has the income to qualify for the mortgage on his own, then you don't need to be a joint on that loan.
However, if your income would be critical to making the loan go through you may have to apply as a joint. In that situation, if one you has bad credit but the loan is approved then the interest will be higher.|||One thing he can do to help your score - and not affect his score - is to add you as an authorized user on his credit cards. They'll put the tradeline on your report as the authorized user/spouse, and it'll have the whole credit history for that tradeline there on yours!
On the other hand, if you add him to an account of yours that is reflecting negatively on your report, it'll reflect negatively on his report, as well.
I know about this because I've been in the credit industry for 15+ years, plus I got married a year ago and we did this to build my husband's credit - I have good credit but lack good income, he's got bad credit but really great income - so I help him in the credit area, he helps me in the income area. YAY!|||it wont effect him , cuz its in his name..is he going through the VA ? cuz when we bought our house, it was under both of us, through the army..but when HE just buys stuff for just him and puts it on his name, it wont effect me at all....one thing, since you have bad credit, tell your hubby to put ur name on the house..so it can boost your credit up..it did for me..good luck!
think of it this way
-HE wants something but under his name only-- effects him
-YOU want something with ur name only--effects you
-you both want something but he has the better credit score to get it, and you both put ur names on it--effects both of you!!
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