Home Buying in Arlington>Question Details

Jessica Jacq…, Home Buyer in Arlington, TX

I am a first time buyer I don't have a great credit score but have a down payment and desperate to own my own home ...can I qualify with a co signer?

Asked by Jessica Jacquez, Arlington, TX Sat Feb 9, 2013

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Hello Jessica,

I understand your concerns about being able to find financing however. If you don't mind me asking when was the last time you pulled your own credit, do you remember your middle score? When you get this I would like for you to give me a ring. Before we get on the discussion of a co signer let us have one of my seasoned lenders just go over some ruff numbers with you. There is a success story awaiting behind every dream, let me help. Thank you

Keller Williams Realty
3xUS Army Vet/ Real Estate Consultant
Joseph Fernandez
off: 817-635-1157
web: http://www.blissful-estates.com
blog: blissfulestates84.blogspot.com
trulia: http://www.trulia.com/profile/josephfernandez/
1 vote Thank Flag Link Sun Feb 10, 2013
Well said, it is a good idea to wait on purchasing until you bring your own credit up. What happens if something bad happens and you default on payment next thing you know your cosigner is being punished financially for your mishap. I vote to look into your credit further myself.
Flag Thu Feb 14, 2013
Jessica, in my opinion.......right now you should be "desperate" to improve your credit scores, as something brought them down, and you really need to get that corrected before talking on more debt.
The house can come later when you can buy a home on your own.

If you're able to get a co-signer, who enables you to buy a home.......you may bring them down, too, if you are late with payments........and...........co-signing a loan may limit their own ability to borrow money in the future.

Find someone who can advise you in regard to improving your credit.

Best wishes.....
1 vote Thank Flag Link Sat Feb 9, 2013
I had a similar question and out of all the comments, to me, this is the best one. You took the time to write a clear and well thought out response and without trying to make a sale. I have a hard time with responses that use incorrect grammar and spelling. If you can write a professional response, I believe, you show the client that you are professional to work with. If I were moving to NJ, I would find you in a heartbeat.
Flag Fri Feb 15, 2013
Not many people would want to co sign for a home for fact the mortgage amount is also applied to their debt owed. Recommend clean your credit move forward qualify for a loan without anyone else involved.

Contact my office today where I can show you many amazing homes work with your family specifications.

Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer

Follow me on Facebook
0 votes Thank Flag Link Sun Feb 10, 2013
Hi Jessica

Talk to a loan officer as there are several loan programs that let you
Borrow with 3.5% down provided it is not a Jumbo loan, otherwise you need 20%

As you indicate you have the down, there are many lenders who will lend
To folks with low FICO scores.

Good luck

Web Reference: http://Www.ruthandperry.com
0 votes Thank Flag Link Sun Feb 10, 2013
If I could recommend something, please take the time to speak with a Loan Officer who is experienced in working through credit challenges. Please read my blog, you might be surprised how easy it is to fix your credit. Don't hesitate to contact me if you have any questions.

Best of Luck!

Web Reference: http://www.AFN-Loans.com
0 votes Thank Flag Link Sat Feb 9, 2013
John is right......

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
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0 votes Thank Flag Link Sat Feb 9, 2013
Hi Jessica
You say your credit score is not great, but what do you consider not great? I have worked with several buyers that have said their credit score was not great and it was fine. Really before you throw in the towel or look for a cosigner for a loan let's talk and get you together with a lender who can tell you the truth about where you really are.

John Straub
Keller Williams Realty

0 votes Thank Flag Link Sat Feb 9, 2013
You would still have to qualify.....
Co-Signer can add income but they cannot override bad credit.

http://dallasloanguy.com/free-credit-book/ http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes Thank Flag Link Sat Feb 9, 2013
Hi Jessica! Yes ma'am you can qualify with a co-signer. Also, you could look into some credit repair with a lender to get your scores up fairly quickly, so you can qualify on your own.
Would like the opportunity to work with you.
Heather Morgan
RE/MAX Associates
0 votes Thank Flag Link Sat Feb 9, 2013
I'd recommend speaking with a trusted lender who can work on your credit with you. DeAnna Morgan has done this for MANY MANY of my clients with great success- 817-944-8094 or DeAnna.Morgan@benchmark.us
0 votes Thank Flag Link Sat Feb 9, 2013
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