Las Vegas Real Estate Question of the Week

Image by Getty Images via Daylife

Las Vegas Real Estate Question of the Week

"I am doing an FHA loan.  I am married and my wife won't be on the loan.  Why do you still need to pull her credit?"

FHA guidelines state that the loan must include the debt obligations of your spouse even if your spouse is not going on the loan.

Her score and income will not be a factor.  However, the lender will pull her credit to review her monthly debt obligations.   Even though the lender won't be using her income, her personal monthly debts, if not jointly liable with you, will also be factored against your income.

Additionally, if she has major collections, liens, judgments, or other serious financial challenges they may have to be addressed as well and they could possibly affect your loan.

Let FHA Loans Help You

RELATED POST: Monterey at the Las Vegas Country Club

RELATED POST: HUD Released the New FHA Loan Limits by County

If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me, Bob Ratliff with RE/MAX CENTRAL LAS VEGAS, at rratliff@remax.net, or call me at 702-807-5528. I look forward to hearing from you!

Related articles by Zemanta

• The Expanded First-Time Home Buyer Tax Credit: 10 Common Questions (and Answers) (usnews.com)
• More Disinformation On FHA From The Wall Street Journal (fhaloanadvice.com)
• Advantages of FHA Loans vs. Conventional Loans (bloghomedenver.com)