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Can't put wife on mortgage due to credit but can we use her for down payment

My wife has an account only in her name in which she has been saving up funds for buying a home. Recently her credit completely flipped due to some unfortunate circumstances. So we cannot put her on the mortgage. Can we still use the funds from her account toward the down payment without any trouble?
By hectorarias68123718 from MN Sep 4th 2014
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That's a very insightful question! The simple answer is yes you can. If you are having trouble with someone telling you that they can't use the funds, give me a call. I'd be happy to help! Call me at 763-519-1100 x589

Sep 4th 2014

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Yes, that will not be a problem as long as it's properly documented as a gift to you. That varies slightly by loan program.

Sep 4th 2014

Yes... There are a few ways to make that work... I'd be happy to go over it with you. Call me at (651) 552-3681. We lend in MN, WI, and SD, and my office is in St Paul.

Sep 4th 2014

Hi, How are you? Hope all is well. Yes you can have her gift you the funds, if you dont want to put her on the mortgage, however I may still be able to put her on the loan if you like, as we can do deals with much lower scores then most lenders. Also we dont charge any closing cost (origination or points). And if you have 5% down I may also may be able to get you out of paying monthly mortgage insurance. If you like give me a call and I would be more then happy to go over some of our great programs with you. 612-756-5676

Sep 4th 2014

Yes, you have options. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been lending nationwide since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803

Sep 5th 2014


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