Home Buying in Verona>Question Details

tmodzter, Home Buyer in Verona, PA

my girl friend are looking to buy a new house her credit is great 800 due too some medical bills mine has dropped to about 650 can we morgage in her

Asked by tmodzter, Verona, PA Tue Nov 13, 2012

name but put house in both

This question was asked from this property: http://www.trulia.com/property/3091522485-753-Clearview-Dr-V…

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You might want to check into the USDA Rural Development guaranteed loan program. Go to http://www.rurdev.usda.gov.
0 votes Thank Flag Link Tue Nov 13, 2012
Hello tmodzter,

If you are asking can both of you be on title to the home and only her on the mortgage, the answer is YES.

However with a 650 credit score you are not precluded from getting a mortgage. The rate may not be as good as the girlfriends but depending on the program it may not be much different either.

Let me know if I can be of more assistance. I have spoken to clients on purchase deals like this where at settlement, the other party is left off title and it has caused terrible consequences as unforeseen events have occurred later.

Make sure that if your are both not on the deed, you DO NOT SIGN.

I'd be happy to assist you if you like.

Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
NMLS ID 143960
0 votes Thank Flag Link Tue Nov 13, 2012
Lately, with all the new banking laws, the same names need to be the same from start to finish. Talk to your banker. Also, a portfolio loan may work.
0 votes Thank Flag Link Tue Nov 13, 2012
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