How I was wonder is it possible for me a student to buy a house with my parents and qualify for a no downpayment.? If so how.?What would I need.?

Asked by Apariciolove27, Sun Sep 30, 2012

My dad works and has great credit and I work as well and I'm barely getting credit.In only 18 and my dad is 55.

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Michael Magaw, Agent, Torrance, CA
Mon Oct 1, 2012
Yes, it is possible, but it all depends on the circumstances of the people. This is best dealt with one on one. Call me to discuss.

Michael Magaw
0 votes
Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Mon Oct 1, 2012
You can have your dad be on the mortgage with you to help qualify using a couple different programs. The first is an FHA loan which has a 3.5% down payment requirement. It's commonly called the "kiddie condo" program, to allow a parent to co-sign with their children who are away at college and need an affordable place to live. It mixes all income & debt payments together to determine what you can qualify for, and the down payment can be provided by the parent as well, gifted from other family members, or even a personal loan from family could be given. The other is a conventional loan program which has a 20% down payment requirement, would be further away from 0% down.

Shane Milne | Lending in all 50 states | NMLS #81195
0 votes
Will Thomas, Agent, Los Angeles, CA
Mon Oct 1, 2012
Hi Apariciolove,
I specialize in the Inglewood area and it is possible to qualify for a no downpayment loan. Give me a call at 323-359-6719 and we can talk to my lender.

Will Thomas
0 votes
Oliver, , Brentwood, CA
Sun Sep 30, 2012
There maybe some options available to you. My name is Oliver, give me a call at (949) 607-6645
0 votes
DJ Bonner, Agent, Long Beach, CA
Sun Sep 30, 2012
Yes, it is possible. Please email me and I will give you the contact info for my lender.
Thank you,
DJ Bonner
Keller Williams Realty
0 votes
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