Now that you are married and maybe a kid or two are on the way its time to think about buying a home and getting a mortgage. You have always done everything together from watching the same Netflix shows to picking out paint. Buying a home could be one of these times you don’t do this together. You might be able to save thousands by applying for a loan solo.

How you end up overpaying

Lets say you have a credit score around 680, not a terrible score but has some work for improvement. Your sweetheart has a credit score of 740, great credit. This drastic range in score could either help or hinder your monthly mortgage payment. This could also change your rate anywhere from 1/8th of a percent to over a half a percent in interest rate change and over the course of 20-30 years could cost or save you thousands. Now both of you might need to be on the loan due to needing both of your monthly income to qualify for the home loan. Take your time, do some number crunching and see what makes the most sense.

The Feds have done some of their own number crunching and based on 6000K plus joint mortgage applications from 2013-2015 they estimate couples could have reduced their annual interest payment by $220-$1,400 had they improved their credit score or had used a better score to apply with.

How to get your credit score ready

Before you or your spouse apply for a loan make sure to get your credit in shape. Start by paying down high balances on your credit cards. Only use about 30% of the max limit. Limit shopping around for credit cards, the more inquiries the more it hurts your credit. Keep making all of your other payments on time with no late payments.