Buying when you're a co-signer on another mortgage
1 Reply
Joseph Sarullo
posted almost 2 years ago
I'm planning to buy a house at the end of the year and I'm a co-signer on my sister's mortgage. She makes the payments.
Will this effect my mortgage in a negative way? Whether it's being approved or the rate I receive? This will technically be my first home.
J
Harjeet Bhatti
Lender from Chicago IL- CDLP
replied almost 2 years ago
@ Joseph Sarullo No that won't effect the rate. As long as you have 12 month bank statements showing she is making payment for that mortgage it won't effect your DTI either.