Yes, just goiing over a case for a husband and wife. They wanted to refinance their house and take some money out. He had a 695 credit score (middle score) and she had a 722 score. Running their credit together and analyzing their income in normal fashion, I got a rate for them.... Looking further into that rate and notes, I noticed the "FICO 680-699"....So I ran their situation without him...Based on her income and credit score....The rate that I got back came back 1/2% lower!!! For 5 points!!! Now if he were applying by himself, I would have had the "credit score improvement talk"...sometimes it makes sense to wait a little bit and work on boosting that credit score.
So, think about analyzing your situation...if you are showing a potential buyer a house, look at both of their credit scores and income histories. It's best not to wait until the last minute!
Just another little note on keeping your credit good and keeping an eye on it.
It feels like summer here. And I'm stuck inside working on loans... Well, I could be offshore fishing. Oh, well, I could be! Tuna are biting; my friend got a 230# bluefin two days ago....Nice sushi. I'm here closing loans.
Rich Antonino, Benchmark Mortgage!