Asked by Mary, Diamond Bar, CA • Sun Oct 17, 2010
They both are pharmacists. They will be earning 120k each per year. If they want to buy a house together now, will they qualify for a loan? Assuming they will put 20% down payment and looking for a home cost 700k? If not qualify a loan now, then how long do they need to wait until to qualify a loan? If I have to cosign for the loan, is that mean my name will be on the deed? If me and her boyfriendâ€™s mom both cosign the loan, will it better position and will easier to get the loan approve? Should I request his mom to cosign for him and I cosign for my daughter? If so how to state the ownership on the Tenants in Common (TIC)?
Thank you, Mary
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