Nov
21
can someone who be on two home loans at once?
By
Was just wondering if a person is already on a loan for a home as a cosigner can they be used as a cosigner for another. I already asked my realtor and he doesn’t know.
Related posts:
- I am a new Loan Officer, what can I do to help other refinance, get pre-approve or do home loans for them? I am a new Loan Officer and was wondering on how to bring in people who wants to refinance, get pre-approve or do home loans either thru emails or...
- How do you get grants for home loans? I was wondering if anyone new how to get grants for down payment assistance for loans to purchase a home? ...
- What banks have money and are lending for home loans right now? I have a FICO score of 725 so I’m thinking if I find the right bank I could still get a home loan even in this economy, but which...
- If my credit score is 680 what kind of interest rate should I be getting on home loans? if the home loan is 130 g and i can put 10% down is it better to just go with a fha loan and only put 3% down and...
- How are home loans priced where you live? In your country, do you get home loans at a fixed rate for say 15 years? Do you have to pay a large penalty for pre-paying? If the loan...
5 Comments
November 23rd, 2009 at 4:50 pm
Yes if your debt to income ratio isn’t that high.
November 25th, 2009 at 6:54 pm
Yes. So long as your financial situation allows for it. Also, the guarenty may be a non-recourse loan.
November 29th, 2009 at 3:58 am
Yes, and they can do stated income, nodoc, stated income stated assets you name it there are a ton of programs like this.
Matt
December 2nd, 2009 at 2:53 am
Certainly, although you might need to structure the loan slightly differently, like as an investment property or second home.
It’s not unusual for people especially with poor credit profiles to add a parent to the loan.
What I would suggest though, more so, is that you should look to try and have the cosigner on the loan by themselves. This is a little easier and might result in a better rate and payment.
December 3rd, 2009 at 9:58 am
yes, lender would be happy to give you more money with a higher interets rate.
Housing market continues to slump though. Wait a little bit.