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Cosigner

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ktnumber1girl Joined: 31 May 2011 Posts: 1 1.31 Dollars($)	Posted: Tue May 31, 2011 9:41 pm    Post subject: Cosigner Like 0 Dislike 0 Hello, I was just told that I need to find a cosigner, because I need to prove more income is available. I have good credit, enough assets, but lack two years of W2s. I have a cosigner, who has a good job and enough assets. However, he does not have credit. Is it possible to get an FHA loan? The loan is only for $35,000
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue May 31, 2011 10:05 pm    Post subject: Like 0 Dislike 0 Welcome ktnumber1girl, If the co-signer can show 2 years of employment history, then he will be able to co-sign for the loan and you'll be able to get a mortgage. _________________ Procrastination is the enemy of your financial success
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Wed Jun 01, 2011 3:10 pm    Post subject: Like 0 Dislike 0 Unfortunately, it appears that your real query remains unanswered. I think that your cosigner's lack of credit might be a stumbling block, frankly. Lenders are so much more conservative than at any time in recent memory, and a cosigner who lacks credit references might well be looked at unfavorably in a situation such as yours. You're going to need to have a detailed conversation with the lender in this case to see what they're looking for and whether or not you and your cosigner can provide that. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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