Can I Apply for a Home Loan Without My Spouse?
Securing a mortgage is often a part of buying a home. During this process, you will have to decide whether to include your spouse on the application for a loan. In some situations, going solo might be more beneficial than filing a joint application.
Can I Apply for a Home Loan Without My Spouse?
Yes, you can apply for a home loan without your spouse. Whether that's a good idea depends on a number of factors, which we will cover in this post.
When to Include Your Spouse
Combined Income is a Strength
Including your spouse on the loan application can improve your combined income, making it easier to qualify for a larger loan amount. This is especially favorable if one partner has a higher income or a more consistent financial history.
Clear Credit Score Benefits
If your spouse has a higher credit score than you, including them on the loan could lead to a better interest rate. A higher credit score generally results in more favorable loan terms, possibly saving you money over the life of the mortgage.
Which credit score is used for a joint mortgage?
In the case of a joint mortgage, both your credit scores will be considered. The lender will review your credit scores from all three major credit bureaus and look for the "lower middle" of the three.
When your three credit scores are 745, 720, and 710, and your partner's scores are 705, 685, and 680, lenders will take your two middle scores - 720 and 685 - and use the lower of the two - in this case, 688.
As you can see, if you are trying to obtain a joint mortgage, getting the best mortgage rate requires you and your partner to have good to excellent credit scores.
Utilizing Spousal Income for Debt-to-Income Ratio
Lenders often consider the debt-to-income ratio when approving a mortgage. Including your spouse's income can help lower this ratio, making it more likely you'll qualify for the loan.
When Not to Include Your Spouse
Credit Issues
If your spouse has a lower credit score or a history of financial troubles, it will drive down the "lower middle" credit score of a joint mortgage application.
Reducing Debt-to-Income Ratio
Consider leaving your spouse off the loan application if they carry significant debt but earn minimal income, which can damage the debt-to-income ratio of a joint application.
The Decision Can Be Tough
Deciding whether to include your spouse on a home loan is an important decision that calls for careful consideration of various factors. Each couple's financial situation is unique, and considering the pros and cons based on individual circumstances is critical.
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Original post: 1/18/2024
Updated post: 7/28/2026
