Posted on: 01st Jul, 2013 01:54 am
How will it impact my chances of buying a new house if I co-sign for a student loan?
Hi NAVY,
If you co-sign for a student loan, it will be considered as your liability until the loan is paid off. It will have an impact on your debt to income ratio. If the debt to income ratio increases, then you will face difficulty in getting a mortgage for your new house.
Thanks,
Jerry
If you co-sign for a student loan, it will be considered as your liability until the loan is paid off. It will have an impact on your debt to income ratio. If the debt to income ratio increases, then you will face difficulty in getting a mortgage for your new house.
Thanks,
Jerry
Hi NAVY!
Welcome to the forums!
It will be better if you could avoid co-signing a student loan immediately before taking out a mortgage for your new home.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
It will be better if you could avoid co-signing a student loan immediately before taking out a mortgage for your new home.
Feel free to ask if you've further queries.
Sussane