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Private Lending & Conventional Mortgage Advice

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Mitch Kronowit
  • SFR Investor
  • Orange County, CA
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Can my wife buy her own home?

Mitch Kronowit
  • SFR Investor
  • Orange County, CA
Posted May 4 2010, 10:20

We're looking to add property to our portfolio. I currently can no longer qualify for any conventional financing due to DTI requirements, however, my wife is NOT on the title or note of any of our holdings. Therefore, there won't be any mortgages on her credit report.

Could she use her good salary and decent credit to purchase a home herself and leave me out of it? If I co-sign, will my excellent credit score help her or sink the whole deal since I have a large mortgage under my name? Will the lender be curious where she is currently living since she isn't renting, but isn't paying a mortgage either?

Thanks.

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