Which is the better scenario for getting the best Mortgage rate? Should I sign alone, or should spouse sign 2?
My spouse and I own one home, which we are renting
We are purchasing a second home
My income, alone, should be able to qualify for the loan
My spouse is temporarily between jobs, due to relocation
Our credit scores are both in the 700 range, with hers slightly higher
We have approximately in 30K in bad debt (auto/credit card), most of which is under my SS#, though we could move some over to hers
I should clarify, by “Bad Debt”, I mean Credit Card and Automotive debt. We are current on all of the payments, and have not been delinquent at any point.