Thanks, look forward to speaking with you soon. Have a great day!
Assuming your daughter is not purchasing a home via “short sale”, there is no way it should take until December 1st to close an FHA loan. Any competent lender should be able to complete this in 45 days or less (under 30 days is by no means out of the question). Since I don’t know the specifics of your situation though, talk to your lender to be sure.
I bought my first home when I was 18 based on an FHA cosign. It worked out well. Having said this, I’m sure I don’t have to warn you about the potential pitfalls of cosigning. If the loan isn’t repaid on time, it will injure both of your credit ratings, not just your daughter’s.
To the best of my knowledge as long as your daughter is the primary purchaser and as long as she qualifies for the tax credit, it doesn’t matter how she pays for it. Speak with your accountant to confirm this.
It sounds like you could use guidance from an experienced agent.
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