Co-Applicant for Next Mortgage?

[Alecia Loveless]

I’d like to include my spouse in my next deal. While she has little to contribute financially, I will be providing the financing, she has half interest in our primary residence that is worth about $250,000 and is income producing, and $35,000 in retirement funds for assets. As well as $10,000 in cash.

However, her credit is well above 800 as is mine.

We are both social workers so our W-2 income isn’t great but adding hers to the mix would double what mine is.

Would it make sense to add her to the mortgage application? Or is not having much in the way of assets and cash going to cause my portion to get dragged down?

[Jesse Rivera]

Having her on the loan and title won't hurt you or help you get qualified (unless she has a significant amount of debt that will hurt your DTI). The benefit would be in estate planning, if you don't live in a community property state.