How do they determine the credit score when there are 2 people on a mortgage?

My husbands credit is much higher than mine. Will they average the two scores ort take the lowest credit score and base the mortgage rate on that?How do they determine the credit score when there are 2 people on a mortgage?
They either take the lowest or that of the major breadwinner. You need to ask them specifically which they will use.How do they determine the credit score when there are 2 people on a mortgage?
Mortgage companies use the lower of the two middle credit scores when two people apply for a home loan or mortgage.





For example, let's say that Bill has a 750, 720, and a 710 credit score. His middle score would be 720.





Then if his wife has a 619, 800, 632. Her middle credit score would be 632.





So the mortgage company would qualify their loan using a 632, not the 720.





Banks also consider a couple's debt ratios as much as they look at credit scores.





Hope that helps.


http://www.mylendingplace.com