Check Out Your Friend's Credit

If you are buying a home jointly with someone else, your credit score may not be the one the lender looks at.
HmBuy_loans_H

HmBuy_loans_H

By: Tara-Nicholle Nelson

Make your co-buyer go through the credit makeover process to maximize her score, too, then consult with your mortgage professional. Even if your score is below 580, you might not need to wait if your co-buyer's score is the one lenders want to see. Generally speaking, the buyer who makes the most money is the one whose score is of interest to lenders. Of course, the person with the highest income is also often the person with the most bills and, accordingly, the lowest credit score. Consult with your mortgage professional to see whose score is important. 

Keep Reading

Next Up

Real Estate Investing

Before you invest in real estate, it's important to look at carrying costs, closing costs, commissions and capital gains taxes. Here's why.

Take Better Real Estate Photos

Attract web-savvy homebuyers with quality shots.

Real Estate Survival Guide: Seller's Checklist

Refer to this 10-step checklist to get you through the home-selling process.

Real Estate Survival Guide: Buyer's Checklist

Refer to this 10-step checklist to get you through the homebuying process.

Campus Cribs: Buying Real Estate Property for Your College Student

Buying a space for your student could turn out to be a great investment.

Casting Home Buyers and Dynamic Realtors for Real Estate Show

Are you a home buyer or a dynamic realtor? Apply now to be a part of this new real estate show!

Real Experiences With Solar Power

Hear from homeowners who have made the switch to solar energy.

7 Surefire Ways to Improve Your Credit Score

You've already heard the bad news. The housing crisis has tightened up credit markets, and it's harder to qualify for a mortgage loan. Credit scoring has always been an important part of the loan approval process, but suddenly it bears more weight than ever.

On TV

Shop This Look

Found a living space you love in HGTV's Photo Library? Get the look in your own home with products from Wayfair.

Follow Us Everywhere

Join the party! Don't miss HGTV in your favorite social media feeds.