Colli Real Estate

My girlfriend as an “excellent” credit rating and a mortgage, however my credit rating is awful…………..

I dont have any CCJ’s however I can no longer get credit or open new bank accounts, so if we were to apply for a mortgage would I be a hinderance or would they see that she has a great credit history and a current mortgage and would consider lending “us” more money to get a bigger house??? If not is there anyway she can get a mortgage just in her name but taking my salary into account as this would be a substantial boost to her income what I currently pay her in rent.

Alright, here is how it works.

Your FICO score will dictate the rate you have to pay on your mortgage along with extra fees. So the fact that your FICO score is dogcrap will be a hinderance in getting a loan on a house. So the simple answer would be to put the house in her name and not have you on the loan. However then the debt to income ratio may be out of whack. So you need your wage to help the debt to income ratio in order to afford a more expensive house. But your FICO score is bad.
You either need to improve your FICO score or get a less expensive house.
If you got married, you would see an instant jump in your FICO score. But that would be a lousy reason to get married.

So back to your original question is there anyway she can show a higher income based off your wage but not have you on the house. The answer to that is yes and no. Essentially you would have show that you pay her rent. She would then have to claim that as income. When she applies for the house she could state that she recieves her normal pay and additional income from rent. She would then have to varify that income in the form a deposited check or something. But then you could do exactly what you want. However, that is really risky for her because you are not on the home loan, and if you break up with her and leave she is left holding the bag.

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