Posted on: 27th Jan, 2014 01:28 am
What kind of credit does a co-signer needs to have in case he or she is co-signing for a home?
The credit of the co-signer should be quite good in order to get qualified for a co-signer. It should be in the range of 700 or more.
It really depends on the loan program and bank - if FHA or VA maybe as low as 620 - for conventional the higher the better - keep in mind their ggood credit will not help you if you have poor credit - eliibility is based on the lowest middle score of all borrrowers.
Good Luck
Brian Barnes
ENG Lending
Nationwide Lender
Good Luck
Brian Barnes
ENG Lending
Nationwide Lender
A co-signer needs to have good credit score say 700 or more than that when he is co-signing for a home loan. Only then he will be able to become the co-signer for the loan.
There is at least one lender who does not care what the credit score or credit history is for a Non-occupant co-borrower for an FHA mortgage.
So, if an FHA mortgage covers what you want to purchase, you could use that lender.
Of course, you do not know who that is. Contact me if you want to know who that is or tell me in what state you will be purchasing and I will hook you up with a lender.
So, if an FHA mortgage covers what you want to purchase, you could use that lender.
Of course, you do not know who that is. Contact me if you want to know who that is or tell me in what state you will be purchasing and I will hook you up with a lender.
