Home Buying in Palmdale>Question Details

Angel, Home Buyer in Palmdale, CA

If I co sign for my step dad will the loan they will give us be bigger or stay the same

Asked by Angel, Palmdale, CA Wed Feb 22, 2012

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2
Hi Angel...
How generous that you are willing to help your step dad. The loan the bank will give depends on the price of the house you pick,the down payment, and the payments you all qualify for. If your financial position makes his position stronger, then your family may qualify for a little more than if he was on his own. However, if you already have the house in mind, the loan amount will stay the same.

The most important step is to have the whole family pre-qualify for a loan. A good loan officer will tell you how much a bank will give you, based on the financial information you all provide. Most likely, it will be a larger amount than he would qualify for on his own.

If you've already picked a house, best of luck. If you haven't , and need a good realtor and a great loan representative, please give me a call. I would love to help.

Joanne Sterling
Keller Williams Antelope Valley
323-377-7056
0 votes Thank Flag Link Wed Feb 22, 2012
Angel,

Your stepfather may be able to qualify for a larger loan. I talk about this subject in the short video at the link below.

Rob Spinosa
rspinosa@rpm-mtg.com
0 votes Thank Flag Link Wed Feb 22, 2012
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