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Husband Not on Previous Loan

by Lisa
(Pennsylvania)



I bought our first house before we were married. We are looking to buy another house. Would my husband qualify for a first time home buyers loan? Do I need to put my name on the next house now that we are married?

=====ANSWER=====

Welcome Lisa to my website. Thanks for coming by and asking a question.

Certainly your husband would qualify for a first time home buyer loan. Even if he has been on a mortgage before this would be the case.

At this time, there are no tax credits available so he would qualify without having to worry about the 3 year period since having a mortgage.

If you are both looking to buy a home together, you would not have to go on the mortgage if he can qualify for it without your income. He could buy the house and you could ask to be on the deed to protect your property rights as his spouse without the mortgage obligation.

I'm not sure what the laws are in PA but some states have a dowry rights law to protect your rights. Please check with your legal professionals for information on this.

The best first time home buyer program I can suggest that is going at this time is the FHA home loan.

This requires the least down payment and offers the most flexible terms besides having a decent interest rate.

When talking to a lender, ask for the FHA 203B home loan program.

Take a look at the link on the page for more details on the FHA home loan.

Hopefully this helps.

Please pay it forward and tell others about my website. I want this to be the number one source on the web for good reliable information.

Best Regards,

Jeff Ragan



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