I am paying over 700 in rent everymonth. My lease is almost up and i want to get a house so i dont waste that much money a month. I just need to know if a cosigner will help on the aplication and keep the intrest rate down
2006-11-29 04:08:12 · 5 answers · asked by n_hall_22 3 in Business & Finance ➔ Renting & Real Estate
In mortgages, there's really no such thing as co-signing for credit. It's possible they are so strong they basically qualify on their own, but unless they are living in the home also, different rules would apply.
Usually, co-signing is done for income qualification purposes.
In your case, your best bet is an FHA loan. Find a major bank or broker in your area and get a good loan officer. They'll walk you through what can be done.
2006-11-29 07:21:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It they have good credit go a head get the house but if they say no your out of luck
2006-11-29 05:33:26 · answer #2 · answered by pattibcacl 6 · 0⤊ 0⤋
Yes it will help if they have good credit.
2006-11-29 04:10:35 · answer #3 · answered by Maji 3 · 0⤊ 0⤋
Only if their credit is excellent
2006-11-29 04:14:37 · answer #4 · answered by c s 1 · 0⤊ 0⤋
Yes,of course. That is, if you can find anyone crazy enough to sign! ;-)=
2006-11-29 04:12:14 · answer #5 · answered by Jcontrols 6 · 0⤊ 0⤋