Sentences with phrase «spouse with the lower credit»

Current credit underwriting guidelines, the ones published AFTER the subprime mortgage crisis, state that a mortgage lender must base his or her decision (regarding whether or not to issue a mortgage and how to price it) on the spouse with the lower credit score.

Not exact matches

If one spouse is launching a new business and it comes with a lot of expenses, or has returned to college and can claim credits, filing separately may result in a lower tax burden.

When you apply with a spouse or co-borrower, the lender will use the lower of the two applicants» middle credit scores.

When you apply with a spouse or co-borrower, the lender will use the lower of the two applicants» middle credit scores.

This makes it imperative for each person to have a high credit rating, because conventional lenders will charge you based on the spouse with the lowest score.

In 2014, the Conservatives introduced this credit, which allows families with children under the age of 18 to shift $ 50,000 of income from a higher - earning spouse to a lower - earning spouse for total tax savings of up to $ 2,000 per couple.

If you're married, consider having only one parent co-sign — preferably the parent with lower credit so it doesn't affect the other spouse's credit.

Being added as an authorized user may help improve your spouse's credit score as long as that account is in good standing with an excellent payment history and low credit utilization.

Since some companies will use the score of the first person named on the application, putting the spouse with the best credit score on first can result in a lower rate.