Updated about 5 years ago on . Most recent reply
Fha Loan for 19 year old with a cosigner
So my son is 19 and wants to start real estate investing. He was in college until covid hit and now he has decided not to return. He did have a restaurant job but has worked for me for cash for last 6 months.
My question is can we get him a FHA loan with the good rates and low down if we cosign for him. I can start paying him on the books but even that would take some time, I imagine, to establish his income.
Also he would be moving states. But he would still have enough income obviously to pay the mortgage. We would also be doing a house hack as the potential property is a triplex. Not sure if that matters or not.
Thoughts?
Thank you.