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Answer #1

I think most important is for your husband to pay off the medical debt as quickly as possible so his scores can continue to increase. You’ve given him other tradelines with the credit cards, and the personal loan he got..
If it doesn’t cost to add him so he can now also establish mortgage history and you end up not selling for a year it might be worth it. If you do sell in a few months I wouldn’t add him.

One of these Loan Officers might advise differently however..
Thanks for stopping by,
choicefinance.net

Answers Answered By: choicefinance.net Level Rating148points
Answer #2

You never know for sure on the answer but if you can add him I would do it. The score won’t be seriously impacted by two pulls months apart. You do want to get the medical cleared as well. It’s impossible though to give you a firm answer because credit scores are all impacted by what happens in relation to each other. Fixing one thing is a great start but you must look at the entire picture. Loan officers can help with that and I have a what if simulator that lets us get a feel for what happens if something is paid as opposed to paid and removed.

Paid AND removed is always better. Hope this helped and please let me know if you need more information. Take a look at this article also. You never know for sure on the answer but if you can add him I would do it. The score won’t be seriously impacted by two pulls months apart. You do want to get the medical cleared as well. It’s impossible though to give you a firm answer because credit scores are all impacted by what happens in relation to each other. Fixing one thing is a great start but you must look at the entire picture. Loan officers can help with that and I have a what if simulator that lets us get a feel for what happens if something is paid as opposed to paid and removed.

http://www.examiner.com/residential-real-estate-in-national/lender-advice-for-first-time-homebuyers-about-credit-scores

Thanks,

Brent Mendelson
Senior Loan Officer
Monarch Mortgage
600 Jefferson Plaza, Suite 400
Rockville, MD 20852
240-403-1970 Direct
301-412-0259 Cell
http://www.monarchmtg.com/bmendelson
nmlsr#111407

Answers Answered By: Brent Mendelson Level Rating133points

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