Posted on: 04th May, 2011 08:17 am
my parents do not own there own home. they sold 5 years ago. they live with my sister who they co signed for. I am looking to buy 250k home with 650 scores, can my parents also cosign for me. there scores are in the 800's
If their income is sufficient, to be able to cover all the mortgages, and their debt, you should be able to get a new loan, as long as your credit and income are acceptable as well. Contact a lender in your area to get pre-approved.
Hi Guest!
Welcome to forums!
Your parents have a good credit score and also do not own a property or a mortgage. In such a situation, they will be able to co-sign for your mortgage if they have a stable income.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Your parents have a good credit score and also do not own a property or a mortgage. In such a situation, they will be able to co-sign for your mortgage if they have a stable income.
Feel free to ask if you've further queries.
Sussane
I will nod in agreement also. Your parents, as long as they are comfortable with payments, and qualify based on their existing income level, would surely qualify to cosign for you.
Yes your parents can co sign, if they have a stable income.
Yes. Parents should have a stable income and should be capable of managing with their income level.