Buying a home for the first time is a big life moment, and so is marriage. So if you're considering tying the knot and buying a home, there are a few things you should consider before deciding which you do first. Mortgage companies won't use the highest credit score between you and your partner or even the average of your scores. They will focus on the lowest credit score, so if your spouse has a credit score that would keep you from getting the best rate possible, you may want to apply before you get married. For dual-income couples, getting a mortgage with both spouses on the loan usually means you will qualify for a bigger home loan. However, if your spouse isn't on the loan with you, then your lender won't consider your spouse's income. That means you'll probably have to settle for a smaller, less-expensive home. You also need to take into consideration your spouse's debt-to-income ratio. Watch to find out what that means, and how it could impact your chances of getting the mortgage you want.

Share:
More In Business
Prince Harry Settles a Tabloid Phone Hacking Claim
Prince Harry has reached an out-of-court settlement with a tabloid newspaper publisher that invaded his privacy with phone hacking and other illegal snooping. Attorney David Sherborne said that Mirror Group Newspapers had agreed to pay Harry’ “substantial” costs and damages.
Load More