Have you ever wondered why you are asked about your marital status at a bank? It’s not because the banker is hitting on you, it’s mainly because banks would like to just find out everything about you! Well, that’s partially true too, but for loan and mortgage applications it’s important because your spouse’s income could be used on your application. Usually, it’s a positive thing because it adds more to your household income and hence all the ratios calculated to qualify for the loan / mortgage improves too. If you don’t qualify for the loan, the bank may suggest joint application, which is usually the case for mortgages. But beware! If your partner has horrible credit history, it will affect your application negatively.