Home Buying in Ozark>Question Details

Jsmedley, Home Buyer in Ozark, AL

Can you have a co-signer if your credit is good but have a nice down payment?

Asked by Jsmedley, Ozark, AL Wed Feb 8, 2012

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Gena Bolton’s answer
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I going to answer this as your question is

"if my credit is not good but have nice down payment"

Yes if your credit meets min score required and no current foreclosures or Bk. FHA allow for non occupant of the property as a co borrower, limits in around Ozark are 270,000

with good credit and nice down payment - sure no problems, find anyone who does fha and enjoy your new home
1 vote Thank Flag Link Thu Feb 9, 2012
This question should be able to be answered by your mortgage broker. It all is going to depend on the subject property, Loan to Value ratio, income, etc. Adding a co-signer with good income & good credit typically will give you lower interest rates and possibly a larger loan amount. Good luck!
1 vote Thank Flag Link Wed Feb 8, 2012
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