Fannie Mae & Freddie Mac – HomePossible® & HomeReady®- Income Limits: If I have a married couple but only one spouse wants to be on the loan, is this acceptable for income limit purposes? 97% Financing Options Comparison – Fannie vs. Freddie Chart

Answer: That should be acceptable if both work; however, the other party cannot not be on the loan.  If you want to have both on the loan, you would have to use both of their incomes.  The only time you can consider not including income (from anyone on the loan that has employment) is if [...]