if my credit score is decent, but my income is low at the moment, would a cosigner help me to get a mortgage?
Post date: August 28th, 2011
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August 28th, 2011 at 1:09 pm
Yes, but primarily to make you eligible for a higher loan amount. Much depends upon the co-borrower’s income and debt ratio
August 28th, 2011 at 1:09 pm
the problem is will the co maker help you pay the note every month? if not then use your own income to qualify on what YOU CAN PAY.
I am a mortgage banker in TN
August 28th, 2011 at 1:09 pm
Yes, it would help if the cosigner has plenty of income and good credit. It is quite a liability for a cosigner to assume and I would not recommend anyone do it.
August 28th, 2011 at 1:09 pm
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