Specialized In Jumbo Loans, Investor Loans, DSCR Loans, Non-QM Financing, Commercial Mortgages, and Tax-Informed Lending Strategies
Published By
David Ghazaryan
Owner / Broker / Banker
Contact Me At
(702) 766-3744
NMLS 1486726
When applying for a VA loan in Texas, it is important to understand the state's community property laws. Even if your spouse is not on the loan, their financial profile plays a role. Here is a quick overview:
Community Property State Rules: Texas law requires that a non-borrowing spouse's debts be included in your household's debt-to-income ratio for loan qualification.
Credit Score vs. Debts: A lender will pull your spouse's credit report solely to identify their monthly debts. Their actual credit score does not impact your loan's interest rate or approval, which are based on your credit profile alone.
Strategic Application: It can be advantageous to keep a spouse with high debt or a much lower credit score off the VA loan application to secure better terms and simplify the process.
Read the full blog article here: https://www.iqratemortgages.com/blog/spouse-not-on-your-texas-va-loan-heres-what-happens
Your spouse’s bad credit is ignored, but we must count debt. This is the rule I, David Ghazaryan, must always follow. We aim for your household debt to be below 41%. (Data may vary over time) You apply alone. This lets you use your best score. This move keeps their VA loan power for another time. I linked my socials and the article in the description.
Read Blog Here: https://www.iqratemortgages.com/blog/spouse-not-on-your-texas-va-loan-heres-what-happens
