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If I have a non occupant co-signer for an FHA loan, will I be approved for a higher amount?

Posted in Uncategorized | December 29th, 2011

Query by Lissy B: If I have a non occupant co-signer for an FHA mortgage, will I be approved for a higher quantity?
I am trying to get my initial home with my boyfriend of 6 years. His credit score rating isn’t really very good, so I want to purchase the residence myself. Using a loan calculator, I figured out that on my very own I won’t be accredited for a affordable amount. If I have a co-signer, will the volume of the bank loan enhance? How a lot will it enhance?

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Answer by real estate man
unreasonable volume? Do you mean that amount that you can actually pay for? Why is that unreasonable?

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One Response to “If I have a non occupant co-signer for an FHA loan, will I be approved for a higher amount?”

  1. godged says:
    December 29, 2011 at 5:44 am

    If your mortgage allows for a co-borrower, how much the loan amount will increase will depend on the strength of your co-borrowers credit score and resources.

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