Home Buying in Buffalo>Question Details

G M, Home Buyer in Buffalo, NY

Mortgage for an applicant with no income and a co-signer with sufficient income?

Asked by G M, Buffalo, NY Sat Aug 17, 2013

Hi. I'm in the US since less than one year and have a thin credit file. My wife has a FICO score around 700 (she's been in the US for a few years now). She's stopped working recently, but I make a decent salary ($85k gross base bonuses per year). We'd be looking to buy in Buffalo for around $120k. Despite my comfortable situation, banks just turn me down immediately because of my thin credit. Would it be doable to have my wife apply for a mortgage with me as a co-signer, even though she doesn't have an income herself?

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Have her contact lenders in the area, and see if they can run her credit and use you on the loan. It should be possible. Just remember the lender should be working for you not to pad their pockets. Also take a look at a few mortgage brokers who can shop around for the best loan terms for you. In the end unless you have judgements against you, then someone should be able to get you financed.
0 votes Thank Flag Link Sat Sep 21, 2013
I would be happy to help you find a home if you are still looking. If you and your wife are co-buyers there may be a way to make this work. Please call me at 716-997-3444 or e-mail jason.jurek@huntrealestate.com
0 votes Thank Flag Link Tue Sep 10, 2013
just pay cash
Sorry, your answer is too short. A minimum of 25 characters is needed.
0 votes Thank Flag Link Sun Aug 18, 2013
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