Hi Guys, I recently received my 2 year conditional GC in August 2014.
Now we are looking into buying a house.
The issue is, my wife's credit history score is around the 500's, we are trying to improve on it.
I started working in May 2014, and I got approved for a pre-approved credit card at chase.
I recently checked my score on credit Karma, and it was around the 700's mark.
I always pay off my credit card, and use less than 9% of my total limit.
I was wondering, if I buy a house under my own name sometime next year, and when time comes to ROC, will this be seen as unacceptable, seeing that my wife possibly wont be on the house title, if her credit score is still low (We don't want to pay a higher interest rate)?
If we both go for a joint home loan, we both will be assessed individually and they will take the person's lowest score to give us a mortgage loan, i.e a higher interest rate, which we don't want.
We would still have joint utility bills under our names, shared accounts etc.
She is the petitioner, and I am the beneficiary.