Michaelaclaud, Home Buyer in Santa Barbara, CA

Is it possible to use a co-signer on a conventional mortgage?

Asked by Michaelaclaud, Santa Barbara, CA Mon Mar 29, 2010

I'm working on buying a house in Colorado but am self-employed so having trouble with qualifying for what we can afford. Wondering if it's possible to use a co-signer on a conventional mortgage?

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angelgirl910, Home Buyer, Washington, DC
Tue Sep 24, 2013
I am trying to re finance under a conventional loan, my credit union says i can not have a co signer yet i read that i can so i am confused thks mary
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Lori Lewis, Mortgage Broker Or Lender, Bethlehem, PA
Tue Mar 30, 2010
FHA has a program called "Kiddie Condo" for this situation. It is restricted to family members but it is a perfect way to have someone cosign who doesn’t live in the house with you (non occupying co-borrower)

FHA has put some restrictions on this program so check with a LOCAL lender to get the info!
0 votes
The Hagley G…, Agent, Pleasanton, CA
Mon Mar 29, 2010
Absoluitely. Give Linda Grassi a call at 925-824-4848....she can help you if you are not already working with a lender.
Web Reference:  http://www.cindihagley.com
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Mon Mar 29, 2010
Michael - I'm no mortgage rep, but I am sure you will have a few of them stopping by to answer your question.

To the best of my knowledge, yes, you can have a co signer on a conventional mortgage. That person must be qualified, have excellent credit and sufficient income to back you, and and help substantiate the loan. If they already have a current mortgage, that might impede their ability to help.

Good luck!

Good luck!
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