Most married or engaged couples thinking of buying a house combine their income and credit scores when applying for a mortgage. But sometimes, doing so may not help you achieve your goals, provoking the question: Can a married couple buy a home with only one partnerâs name on the mortgage? The short answer is yes, though you want to understand the pros and cons of getting a mortgage without your spouse.
For many couples buying a home together is an exciting milestone. However qualifying for a mortgage can be tricky, especially if you only have one income to rely on. In this article, we’ll explore whether it’s possible to get a mortgage as a single or one-income household and provide tips to improve your chances of homeownership.
Is it Possible to Get a Mortgage With One Income?
The short answer is yes, you can get a mortgage with only one income. However, it may be more challenging than qualifying with two incomes.
Lenders typically look at these key factors when reviewing a mortgage application:
- Credit score – A higher score of 740+ helps you get the best rates.
- Debt-to-income ratio – Your total debts compared to income. Below 36% is ideal.
- Down payment amount – 20% or more avoids private mortgage insurance.
- Savings and assets – Shows your financial stability.
- Income – Must be high enough to afford the monthly payments.
While lenders prefer two incomes, you can absolutely qualify on one income if it meets the lender’s guidelines. Preparation and planning are key.
Tips for Getting a Mortgage With One Income
If you’re a single applicant or relying on one income, here are some tips to boost your chances:
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Increase your down payment – Save up to 20% or more for a lower rate and monthly costs.
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Lower your DTI – Pay down debts so more of your income can go toward the mortgage.
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Shop lenders – Compare mortgage rates and terms to find the best fit.
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Look into government programs – FHA allows 35% down payments for qualified buyers
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Highlight assets/reserves – Having savings and low debts strengthens your application.
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Consider location – Opt for a more affordable area or smaller home.
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Boost credit score – Maintain on-time payments and low balances.
With proper planning and a strong application, you can absolutely buy a home on one income. Connect with lenders early and allow extra time for the process.
Can My Partner’s Income Help Me Qualify?
If you need your spouse or partner’s income to qualify for the monthly payments, they will need to apply with you. However, here are some options if their income isn’t high enough:
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For FHA loans, all household income can be counted even if they aren’t on the loan.
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With VA loans, spousal income is also considered for eligibility.
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For USDA loans, combined household income must be within a certain percentage of the area median income.
So government-backed loans may offer more flexibility than conventional mortgages when relying on your partner’s income.
Should You Leave Your Spouse Off the Mortgage?
There are valid reasons a married couple may want to put only one partner on the mortgage:
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If their credit score or debts would negatively impact qualification.
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If their income is difficult to document.
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For estate planning purposes.
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To protect one spouse’s assets from liability.
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If you live in a common law state and want to hold title separately.
It’s a personal decision that depends on your financial situation and goals. Consulting a legal professional is wise to understand any implications.
Single Income Mortgage Tips
Here are final tips for smoothly navigating the homebuying process on one income:
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Get pre-qualified – This shows sellers you can afford the home.
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Understand your budget – Make sure you can truly afford ownership costs.
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Consult a mortgage pro – They can advise you on programs and strategies.
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Allow extra time – Give yourself a few extra months in case it takes longer.
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Improve any weaknesses – Use the time to boost your credit or save more.
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Bring a co-signer – If needed, a co-signer with good credit can help.
With adequate preparation and an organized approach, buying a home on one income is very achievable. Connect with lenders to discuss your options and get started on making your dreams of homeownership a reality.
One Spouse Has A Low Credit Score
When you buy a home with a partner, mortgage lenders typically use the average credit score of both borrowers. For example, letâs say youâre applying for a conventional loan. If you have a 700 credit score and your partnerâs is 500, the average is 600. Because conventional loans generally require a 620 credit score to qualify, you may want to only put your name on the mortgage application because you need a credit score of at least 620 to qualify.
One Spouse Is Carrying A Lot Of Debt
Lenders also look at your debt-to-income ratio, which shows how much of your gross monthly income is dedicated to debt payments. While specific DTI ratio requirements vary by loan type and lender, the industry rule of thumb is known as the 28/36 rule. That means your front-end DTI ratio, which compares your mortgage payment to your gross income, should not exceed 28%. The back-end DTI ratio, which compares all debts to your income, should not exceed 36%. If one spouse has a lot of debt that would raise your DTI ratio, you might want to apply for your loan in the other spouseâs name.
Can I Use My Spouse’s Income On The Loan So I Get Approved? (First Time Home Buyer Tips and 2023)
FAQ
Can I use my wife’s credit and my income to buy a house?
no. you cannot use one persons income and anothers credit. you would both be on it. And IMO never buy with someone you are not married to without an agreement of how to dispose of the property when the relationship disintergrates.
What is the lowest income to qualify for a mortgage?
There are no specific income requirements to qualify for a mortgage — but mortgage lenders do evaluate whether your income suffices to repay the amount you want to borrow. To determine if you’ll qualify, mortgage lenders review your debt-to-income (DTI) ratio, credit score and other factors.
Can my wife get a loan without a job?
Even without a job, you can generally get an emergency loan if you can prove a reliable source of income, such as disability benefits or a spouse’s income.Apr 21, 2025
Can a married person get a mortgage without their spouse?
Should a married couple get a mortgage?
Having one spouse apply for a mortgage can make sense when the other has credit issues, too much debt, or assets you want to protect. With a single income, it may be more challenging to get a mortgage and borrow as much as you can with two incomes. Why Would A Married Couple Buy A House Under Only One Name?
Can a spouse buy a house with one income?
When it comes to a mortgage, or home loan, state law gives spouses equal ownership interest in real estate. Both spouses do not need to apply for a home loan together. How to get a mortgage if you have Commission Income ? Can a couple buy a house with one income? Buying a home on a single income is doable.
Can you get a mortgage if you have only one partner?
The trouble is, if you submit only one partner’s information on the mortgage application, the mortgage underwriters will only consider that partner’s income and assets in determining whether to approve the loan. Usually, couples count on their combined income and assets to afford a home.
Can you buy a house on a single income?
Buying a home on a single income is doable. In fact, well over one in three buyers go it alone on a mortgage. Do married couples both have to be on the mortgage? Married couples buying a house – or refinancing their current home – do not have to include both spouses on the mortgage.
Can I use my spouse’s income to get a mortgage?
Since lenders only consider the income of applicants on the mortgage loan, you won’t be able to include your spouse’s income if you apply in your name only. Can I use my spouse’s income to qualify for a mortgage?
Can a spouse get a mortgage with no income?
If you want to include your spouse’s income when you apply for the mortgage then he or she is required to be a co-borrower on the loan application. In this scenario, your spouse’s monthly gross income and debt payments are added to your income and debt to determine the mortgage you qualify for. Can wife be on mortgage with no income?