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As long as their debt to income ratio is low enough. Generally your mortgage payment should be 25-35% of your net income (what you actually bring home)

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โˆ™ 2006-09-15 00:51:09
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Mortgages

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When buying a house can you get a larger house loan so you can pay off some of your credit cards and car

How long do you have to wait in Canada before purchasing a house after bankruptcy

What is a mortgage lien

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Q: Can a person with lower income and good credit still get a mortgage without a cosigner if their down payment is large?
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Related questions

If we have bad credit will a cosigner help us get a mortgage?

Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.


How can someone be released from cosigning a mortgage loan without ruining their credit?

The only way to be removed from the obligation of cosigner is for the loan to be refinanced.


As a cosigner can you have a vehicle repossessed without affecting the cosigner credit rating?

Nope.


Can a student get a student loan without a cosigner when they have bad credit and no job?

no you do have to have a cosigner with good credit in order to get a student loan.


Does a cosigner have to have a job?

No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.


Will they give me a mortgage if I have bad credit?

Often you can get a mortgage with bad credit. Bad credit can, though, increase your interest rate, increasing your monthly payment.


Will you need a higher down payment to get a mortgage with bad credit?

Yes, a higher down payment is typically needed to get a mortgage with bad credit. A down payment of 25% or more will help to get a lower interest rate.


What mortgage lender can a person use for bad credit?

There are a few mortgage companies that one can use even if one has bad credit. The downfall of this is that you will need to have a cosigner, and will likely have a higher interest rate.


Can a 19-year-old without credit who is not a student sign a lease without a cosigner?

No.


Can you get another loan without a cosigner?

Yes, if you have a good credit score.


How can I find a mortgage if I have bad credit?

Start by looking at your credit report. If you hit a rough spot such as a divorce, you can try explaining it to the lender. Making a higher down payment or getting a cosigner may help. One can expect to pay a higher interest rate.


Which states' lenders are supposed to notify the cosigner before reporting a late payment to credit bureaus?

None

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