Home Buying in 11214>Question Details

Raymond Xiao, Home Buyer in 8771 16th ave.

I have my name on the mortgage. Is a 3-family home. But I don't pay anything tho. Want to get a loan on myself

Asked by Raymond Xiao, 8771 16th ave. Wed Jan 21, 2009

I am current on a mortgage with my brother. Have a bout 11 years left on it. What is the best way to get a mortgage by myself?.

Help the community by answering this question:


You need to discuss this with a Lender, not a Realtor.

No matter who you prove is paying this loan, as long as your name is on the loan, you are the ultimate responsible person and this will be considered when you apply for a new loan.

If you would like some name(s) of mortgage brokers and lenders, will be happy to refer you. Contact me at Gail@GailGladstone.com.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Wed Jan 21, 2009
I could put this app in and have a mortgage approval within 15 minutes, provding you fit the criteria.

0 votes Thank Flag Link Wed Jan 21, 2009
If the property is being paid by someone else and you can prove it, then Luke is correct.

I am a mortgage Broker. If I can be of further assistance, please let me know.

Martin Smith

Precision Funding
877-238-6324 Ext 704
877-238-6324 FAX
0 votes Thank Flag Link Wed Jan 21, 2009

If your name is on a mortgage but it is paid by another person, then you can indicate "paid by other" on your loan application next to the debt. The underwriter will probably want 12 months of cancelled checks from your brother to verify that he pays the debt. This will eliminate the debt from your loan ratios and help you qualify.

After that, then you obatin the mortgage like any other, whether it be Conventional, FHA, rural, etc.

If you need assistance or have questions, please feel free to contact me.
Luke Allison
Flagstar Bank

Apply Online: flagstarloans.com/lallison
0 votes Thank Flag Link Wed Jan 21, 2009
Hi Raymond,
I can help you find a lender. What area do you live in?

Robyn Hammond
0 votes Thank Flag Link Wed Jan 21, 2009
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