Financing in Deptford>Question Details

chrystal gri…, Renter in Westville, NJ

me and my husband are interested in a house and are having a hard time getting pre approved for a mortgage what are some ways we can get approved?

Asked by chrystal griffith, Westville, NJ Wed Mar 2, 2011

we have the money to purchase this house. but i called one mortgage company and they said because im on my parents mortgage i cant get approved. i dont know what to do help.

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Answers

7
You need to contact a different lender. Being on your parents loan may not prevent you from a new loan if they are current on their payments. If you can document they make the payment from their own account with canceled checks you could have their payment excluded from your debt. Find a different loan officer one you can meet with face to face. Good Luck
1 vote Thank Flag Link Wed Mar 2, 2011
I work with several loan officers that may be able to help you. As Joe said, if your agent hasn't put you in touch with a mortgage banker that can help, maybe you need a new agent.
0 votes Thank Flag Link Thu Mar 3, 2011
Chrystal, if your parents can prove that they have been making their payments for the past 12 months (copies of cancelled checks) then you should have no problem.

Feel free to call me if you have any questions.
0 votes Thank Flag Link Wed Mar 2, 2011
Chrystal...If your parents have been current and they have been making the payments over the last year, you may be able to not count the debt. Another option may be to just have your husband on the loan. Would be able to help you out and give it another look.

Joe Cafiero
Superior Home Mortgage
jcafiero@supmort.com
610-594-6611
0 votes Thank Flag Link Wed Mar 2, 2011
Depnding on when you co-signed for your parents mortgage you may consider having them refinance and remove you from the loan. If that is not an option then you need to speak with a seasoned loan officer that will take the time to digest your situation and provide you with needed assistance. You can be a co-borrower on one lona and still purchase a home as long as the numbers work with the ratios. I can offer you 27 years of experience in the mortgage lending industry and would be happy to make an appointment to come to you and go over the numbers with you.

Camille Marotta
Sr. Mortgage Originator
GMI Home Loans
732-539-9300 cmarotta@gmihomeloans.com
0 votes Thank Flag Link Wed Mar 2, 2011
Hello Chrystal,
Thanks for your question.
I would check with another lender to see what they tell you. Ask a lot of questions.
You have to get all answers from the lender you already talked to as to what can be done. When would you be able to? What's steps to take? Etc.
Good luck.
Ines De La Cruz
RE/MAX Connection
inesdelacruz@remax.net
Web Reference: http://www.inesdelacruz.com
0 votes Thank Flag Link Wed Mar 2, 2011
That's good advice.... enough said.
You're still on my email list, Chrystal, so if you have an agent already, let me know and I'll delete you. Although, honestly, your agent should have been able to help you with this question and if not, maybe you should fire them and work with me..... just sayin'

Joe

I Hope that's helpful, if so, click the thumbs up below,

Joe Montenigro, REMAX Home Team
Broker/Owner, GRI (856) 374-2800 x106
serving Glo Twp, Wash Twp and South Jersey
Read my Blog http://hometeamNJ.com/blog
Meet me http://www.facebook.com/joemontenigroRemax
See Virtual Tours at http://hometeamnj.com/search/virtual-tours
0 votes Thank Flag Link Wed Mar 2, 2011
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