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If you are wondering, “Can you apply for a mortgage without your spouse“ then you need to know that such a proposition can be a reality now. We can assist you in finding the right lender for your financial situation. Choose best companies that refinance home loans with bad credit.

Applying for a Mortgage without Spouse – How to Get One Approved?

There could be valid reasons for which one spouse may think of buying home. Many couples prefer keeping their individual finances separate. For example, one of the married partners may have inherited money then he or she can use it as down payment and obtain loan for purchasing separate property.

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Situations in Which You May Apply for a Mortgage Loan without Spouse

Here are some situations that might force you for applying for home loan without spouse.

  • You have bad credit – If you have bad credit but your spouse has good credit then you can contemplate getting a low interest rate housing loan for home purchase by using your spouse’s excellent credit standing. Currently, the best interest rates are being offered on such types of loans at most flexible terms.
  • Case of identity theft – Although it could be hard to prove identity theft, many such cases are being reported these days. Someone else may use your name and credit score for getting credit services for whatever reasons. However, such a thing can destroy the goodwill, which you have earned over the years of working.
  • Spouse has huge debts - You can consider applying for mortgage without spouse if your partner’s DTI is too high because of which obtaining a home loan with sustainable interest rate is difficult. However, you need to have credit rating which is above average so is your case. We can help you to get the best rate.
  • There is no credit score - In case, your spouse has zero credit, and you can apply for a mortgage loan to buy a house. As your spouse has zero credit, there are chances that lenders may deny application even if your spouse has savings for paying down payment. But check your credit and consult a mortgage expert.

If you are looking to refinance your mortgage loans with bad credit, than you can apply here to qualify. Get quick response now!

can i apply for a home loan without my spouse

Applying for Mortgage without Spouse Online: Things You Need to Know

  • Smaller loan amounts

    The loan amount approved for this type of a mortgage could be smaller in size because of the fact that your spouse’s income will not be considered. In addition, as loan amount will be smaller, you might have to settle in for a small house that fits your needs and budget.

  • Joint accounts are fine

    Lenders do not have any problems in approving applications even if an applicant has joint account with spouse but he/she has to be principal checking account holder. Moreover, spouse can use the funds for purchasing home since it is a joint account, it will have little impact on underwriting procedure.

  • Level of spouse’s debts

    Majority of the lenders that offer such types of mortgages will check applicant’s DTI ratio as well as go into finer details of spouse’s debts. Either of these can play a pivotal role in determining chances of obtaining an approval. To know more on the subject, talk to a mortgage specialist today.

can you get a mortgage without your spouse
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