Unfortunately, when a couple marries, there are larger loans that the couple thinks about – in order to further themselves in their financial goals. A mortgage is one of these loans. The income of both partners will allow them to obtain a larger mortgage, but – how will the less than great credit affect the outcome of the loan? The higher risk that a consumer appears to the credit card agency or mortgage agency – the higher interest rate that will be offered on the loan. There are many solutions to this problem. Simply waiting until better credit has been established, while saving a larger down payment could decrease the effects of the bad credit score on your partner’s side. Many lenders are more willing to work with potential homeowners that are offering a larger down payment that can be applied against the mortgage.
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