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Everything posted by Dizzle1010

  1. 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?
  2. 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!

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