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Credit scores and loan approvals.
This may seem like a stupid question and all but I am having a hard time fining answers and you ladies seem to be pros so I am coming here 
DH has close to perfect credit. Me on the other hand... Its slowly improving.(very long story there) But on my credit report it shows all as paid its just negative posts that will fall off in a couple years.
We are wanting to buy a home at the end of summer and have plenty in savings to do a hefty down payment.
My question is, What are the chances of being approved for a home loan with one of us having less than great credit? We are only looking at homes online because we do not want to waste a bank or Realtors time.
Anyone know if it is possible to only go off of DHs credit/income?
Also sorry for the weird formatting. I am posting from my phone.
Re: Credit scores and loan approvals.
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Thinking of doing cosmetic updates to a dated home? These were our costs.
I agree with Tar. If you can purchase based only on consideration of your DH's income and credit score, that would be the best solution.
I don't think you would be wasting a mortgage companies time by going in and talking to them. They can and should help you figure out the best way to get you a mortgage.
I am not sure what the difference from Canada to the US in regards to mortgage company but we went with a mortgage broker and that way he helped us get our mortgage and you can tell them things that you wouldn't tell the actual mortgage company. They will tell you what to put on your application and what to leave out.
This exactly. I had great credit and DH's was just ok from some problems he had years ago. The loan is in my name only because his credit score would have given us a higher rate. We felt comfortable buying on one income only and didn't have any problems. DH is on the title to the house but just not on the mortgage.
Ditto talking with a mortgage lender. Community property states are different than non community property states. The lender can give all the scenarios and you chose the best.