Posted on: 26th Dec, 2013 10:17 pm
I want to take out a conventional loan but I have to take help of a co-signer. What are the requirements that a co-signer will have to fulfill in this case?
It should be noted here that each borrower needs to qualify depending on credit score, income and down payment. The co-signer needs to have 2 years of employment history at the same company or in the same field.
Is the co signer going to occupy the property? If not, then the property will need to be a 2nd home or investment property.
The co signer will need to qualify with credit, income, employment and assets as well as be able to carry the new mortgage payment in their debt to income ratio.
Feel free to contact us with any other questions.
The co signer will need to qualify with credit, income, employment and assets as well as be able to carry the new mortgage payment in their debt to income ratio.
Feel free to contact us with any other questions.