Posted on: 30th Jan, 2014 12:48 am
I am 19 and along with my boyfriend I want to buy a house. I have a credit score of 715 and also have a down payment saved in my account. Will I need to still take help of a co-signer to take a loan?
If you can show 2 years of employment history, then you will be able to qualify for a loan easily.
Well, 715 seems to be a good credit score. You also have saved the down payment amount that you'll have to pay on the loan. As such, you can get the loan easily without the help of a co-signer.
The only benefit to a co borrower is if you cannot show enough eligible income to qualify - as long as you have a 2 year work history and the income is enough to cover the allowable debt ratios you will be fine - if not then a co signer would be needed
Good luck
Brian Barnes
ENG Lending
Nationwide Lender
Good luck
Brian Barnes
ENG Lending
Nationwide Lender
