Can Cosigning for a family member prevent me from getting FHA

Can Cosigning for a family member prevent me from getting FHA

Member since 2020 · 1 post · 0 votes

My mother purchasing a home and needs a cosign if I cosign for her would that prevent me from getting accepted for FHA in the near future for myself?

0Reply
20 views

1 Reply

Jump to latestLatest
  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    6y
    Originally posted by @Joel Jean:

    My mother purchasing a home and needs a cosign if I cosign for her would that prevent me from getting accepted for FHA in the near future for myself?

    Assuming you have a 'normal' DTI and aren't the CEO of a Fortune 500: She will need to demonstrate that she alone, without your help, has been making the payments for 12 months, before you can realistically hope to get a mortgage.

    Assuming pre-covid mortgage guidelines. I cannot predict how that will shake things up, but it may be even more conservative than that in a week or a month. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.