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Old 05-01-2009, 07:57 AM
 
Location: Minneapolis,MN
7 posts, read 21,699 times
Reputation: 12

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My husband and I are ready to sign off on a refinanced loan for our mortgage but b/c I am a contracted worker, something about my income makes it easier for them to just have my husband be the sole holder of the loan although both our names will be on the deed.

My qquestion is this: will not having my name on the mortgage somehow translate into a lower/****tier credit score and make it harder for me to get a mortgage/loan in the future?

Your thoughts are appreciated.
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Old 05-02-2009, 06:09 PM
 
102 posts, read 453,769 times
Reputation: 28
Quote:
Originally Posted by NiceGal View Post
My husband and I are ready to sign off on a refinanced loan for our mortgage but b/c I am a contracted worker, something about my income makes it easier for them to just have my husband be the sole holder of the loan although both our names will be on the deed.

My question is this: will not having my name on the mortgage somehow translate into a lower/****tier credit score and make it harder for me to get a mortgage/loan in the future?

Your thoughts are appreciated.
I think it depends on what your loan officer means by makes it easier. Is it easier for them, or is it easier for them AND better for you too. Personally I wouldn't care if it's easy for them or not, lol.

A lot of times applying together puts people in a lower credit score tier if one person has some problem points in their credit history. But the same can be said if your husband's credit score is worse than yours, including you would be increasing the overall credit score.

If they are willing to refinance with the same interest rate in both cases, I don't think it makes a difference.
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