Transferring loans to my wife to increase my credit rating?

My wife is pregnant (and currently working) and does not plan to go back to work after the baby is born.





At the same time - we are selling our current house and moving to another city after the baby is born (maybe 7-8 months away).





Since I'll be the sole income reported on the mortgage application for the new house, should I transfer our car loans to my wife now (while she is still working) so I show less debt on MY credit report when I apply for the mortgage?

Transferring loans to my wife to increase my credit rating?
Your bank may not be willing to drop you from the debt. If you refinance somewhere else, a new institution may be unwilling to finance in your wife's name only. No need to try to fool around with your credit. Bankers are pretty smart and they ask a lot of questions.
Reply:Your creditors may have some say in whether you can "transfer" your debts.
Reply:Car loans are not considered revolving debt so they don't have a open to buy component on the score. So while reducing your debt load may help, this is going to be a minor improvement if at all.

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