jzalor, Home Buyer in Westland, MI

my name is on mortgage, but not on note or deed. Will I be able to purchase another home in just my name?

Asked by jzalor, Westland, MI Tue Jul 9, 2013

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Andy Hargrea…, Agent, Plymouth, MI
Tue Jul 9, 2013
You can purchase a second home at pretty much any point in time if you have the credit scores and income to support it. Simply put, the loan you currently have will show up on your credit score, and any lender will pull your credit to determine your DTI -- debt to income ratio.

Depending on the size of the home, and whether you are downsizing or not, lenders will likely have certain restrictions on the minimum amount you need to put down to facilitate the sale.

If you want a referral to a lender to advise and guide you along, let me know.

Thanks!
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