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Updated over 3 years ago,
Mortgage in Spouse's Name Also?
BP,
My wife and I are in the process of buying our 7th buy/hold. The lender suggested that I get the loan in my name only since I have the W2 job, but include my wife on the title. She is a stay at home mom, so it doesn't really affect DTI etc. Thus far she has been on every loan with me. I'd like to know if there are any distinct advantages/disadvantages to only getting the loan in my name only.
I realize that once we get to 10 FNMA/FMAC loans we will forced to get look for different loan options. Since she doesn't have any formal income beside rental income, is there anything we should be thinking about now from this perspective?
Thanks!
Josh