Borrowing someone else's credit (tell me what I need to know!)
Hey everyone!
My wife and I want to get into a place that we can house hack a bit on the north side of Seattle. The challenge is that the market is hot, our income isn't huge, and duplexes are pricey.
We have a few friends with great credit and income owe us some favors.
It seems like if we can have someone cosign to borrow against their credit, we could get into a duplex where 2/3 of the mortgage would be covered by the other unit.
What do I need to know about cosigning or borrowing someone's credit?
Thanks for the help!
-Dan