Please consider disabling your adblocker for CreditBoards if you have not already done so. This site depends on advertising revenue to stay online.
Everything posted by Dizzle1010
Thanks for your feedback and welcoming message? I understand your response but what if co-signing is something I just have to do. If so, what’s the ideal situation I can set up (co borrow?) FHA streamline? Or do the 12 month proof of payment by other party so that the loan doesn’t count against my DTI?
Hello, I have recently been asked to co-sign a home loan since the primary borrower does not have good enough credit. They have the means to make payment are putting a good amount of money down. My ultimate goal is to get myself removed from the loan asap and potentially add my wife on it as a replacement(it’s for her parents) Should I do a co-borrower instead of co-sign as a safety measure? Since co borrowers half ownership rights. I don’t plan on occupying the residence and they will be paying for it fully. How soon can I get myself out of the loan is either situation? How soon can my wife be put on it instead of me? She will start earning by beginning of next year. I have good credit and around 32% DTI. How will this affect me in future loans I want to get (car, 2nd property) I already had 1 home, 2 cars and student loans on my credit. How long would it take for the cosign/Co borrower to no longer impact my eligibility for future loans? thank you!