Arthur Leone

If two people want to get mortgage together, but one person has a good credit history and a down payment while the other has a bad credit history and no down payment, will they get approved? Both have jobs and both will be paying the mortgage payments.

Asked by Arthur Leone 8 months ago mortgage


Christopher Huffman
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When two people with different credit histories buy a home or borrow together, banks and lenders are much more lenient in comparison to a single person with a fair credit history. Lenders will take a look at both credit histories, the ability to pay and manage finances, along with any other debts. 

In their case, since one person has the funds to put down a deposit banks generally are not too concerned about who is providing the down payment. They often look at it as a down payment is being made by both parties. Since one has a better history and they are both working, their chances of getting approved is pretty good. However, it is all up to the lender at the end of the day.

In case their application does get declined, I would find out from the lender if there is anything they can to get the application through. If it will take some time to rectify, I would consider talking with a bad credit mortgage broker. You can find some info on that here: https://www.1stukmortgages.co.uk/declined-or-refused-a-mortgage-advice/

by Christopher Huf...  8 months ago

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If two people want to get mortgage together, but one person has a good credit history and a down payment while the other has a bad credit history and no down payment, will they get approved? Both have jobs and both will be paying the mortgage payments.

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