Is it advisable for both husband and wife to be on mortgage loan? She has no income yet. Older generation always had both listed

It depends. If both borrowers qualify, then both being on title and on the loan makes it easier if one passes. It can also protect both parties in the event of divorce. I encourage married borrowers to apply and consummate the loan jointly. If either party's credit scores or debt causes a problem with the viability of closing the loan, then a more in-depth conversation is had. You indicate your wife has no income, YET. I'd be happy to discuss in more detail the pros and cons of joint vs separate. Reach out to me. Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000.

One reason to add another if that person doesn't help by providing "qualifying income" has to do with simply making things a little bit easier when the other person passes away. Another is, depending on the state, is to protect the persons rights to the property during divorce. I lend in MN WI IA SD ND. Find me at JoeMetzler.com, Cambria Mortgage, NMLS 274132