my husband owned a home, i was not on the mortgage/deed, he foreclosed. Do i have to include him if i take a loan?

There's a lot of info missing to properly answer your question, so in general, if you need your husbands income to qualify, then he has to be on the loan, and depending on when the foreclosure took place, he may or may not qualify.. FHA requires a 3 year waiting period unless he qualifies for the "Back to Work" program which allows him to purchase 1 year after a foreclosure. If you do not need his income to purchase the new home, then you do not have to include him in your purchase, and you could add him to the title once the loan is closed.. If you want to know for sure what you could qualify for, you should contact a local mortgage broker and let him look at your complete scenario.. once he sees the complete picture, he would be able to properly advise you.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

If he does meet the foreclosure seasoning requirements for the program you are looking to utilize, then you will have to qualify on your own income alone. Lenders can not take income into consideration for qualifying purposes unless the person earning that income is included on the loan application. If he does meet the seasoning requirements but his credit affects the terms you qualify for then you are better off leaving him off the loan although you may want to consider having the home titled in both your names.

Sorry, 1st sentence should have read "does NOT meet".

How long ago was your husband's foreclosure? If you can qualify for the loan by yourself, what your husband chooses to do with his money is entirely up to him, including giving some of it to you to do with as you please. As long as you are on the loan by yourself, there should be no need for you to inform the lender that your husband will be living in the home with you. That is not an unusual circumstance. The loan application will indicate that you are married, but that's the extent of the information that a lender needs about your marital status. I am currently working on a loan for a married couple and the husband will be on the loan my himself because his wife's FICO would make the loan costlier. That fact that she lives in the home has no bearing on anything. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to discuss this mater with you, and see what I can do to assist you with your purchase loan. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 46 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

There is a waiting period after a foreclosure takes place before your husband will be eligible for a hoe loan again - how long the waiting period is depends on the loan program. If he has not fulfilled the waiting period then you will need to be able to qualify for the mortgage on your own based on your credit, income, etc. Lenders will not care if he is living in the home and contributing to the mortgage - you will not need to disclose that information as long as you are able to qualify based on your income alone.

The ability to exclude a Spouse is dependent on the Loan Program you are utilizing to purchase. FHA requires that Spouse Credit and Obligation be counted in the analysis.If you have sufficient Down and Income to Qualify for a Conventional Loan you can exclude a Spouse.Dependent on the time since the Credit Issue your Spouse may be eligible to participate ioin the loan.

As long as you income and credit and asset qualify by yourself you should be fine.Contact a local lender that can help you with the process.

You may purchase a home on your own, as long as your credit and income qualify. You may add your husband to ownership title after the loan closing, if you desire to do so.

In most states, you do not need to be concerned about him. You can buy the house with only your information. A few states, like WISC, are a community property state, and some loans will require you add his debt to your debt ratio. His foreclosure would not come into play - just his debt. I just closed on the exact same situation... www.MNHomesandLoans.com