I own a home and want to buy a second home, but unable to qualify by my self. What are my chances if, lets?

Asked by Ben, Apple Valley, CA Mon Jan 19, 2009

say a family member and I try to buy a home jointly?

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Tue Apr 10, 2012
Hi Ben,

It may work depending on why you're unable to qualify on your own.

If it's due to your credit scores/history, a co-borrower isn't going to help. If it's an issue with your income/debt to income ratios, a co-borrower may help if they have enough income.
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Joan Patters…, Agent, Rancho Cucamonga, CA
Mon Jan 19, 2009
Hi Ben

I would contact a lender and talk with them. They would be the first place to start. I have several great contacts if you need help!

Good luck!

Joan Patterson, B.A., A.S.P., G.R.I., Realtor
Keller Williams Realty
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Jan 19, 2009
Contact a mortgage broker you can review both of your financial files, credit scores, debt ratio. Interest rates, downpayments would be higher than a home you will occupy unless other family member reside there.
Web Reference:  http://www.lynn911.com
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