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Yes, you should have your loan officer check what your interest rate would be with a cosigner and without. If the cosigner has a lot of debt and not very high income it might be better not to put them on the loan.

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βˆ™ 2007-03-03 01:04:03
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Q: Can you buy a home with a co-signer who has a higher ratio or assets?
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Related questions

Can a lender call the home number of a cosigner in order to verify the information of the cosigner?


Can the cosigner sell the home if payments are not being made?

Absolutely not!

How do you take cosigner off of home loan?

You have to get the bank of financial institution to release the other person from the contract. In order to do that you must both contact them, and the insitution will decide if you have the nessessary assets and credit rating to have to loan only in your name.

If the cosigner of a home loan dies will the bank go after his estate for repayment?

My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.

Can a cosigner of a home loan receive half of the proceeds?

Did you help make payments? If all you did is to cosign, then no.

Can you buy a home after foreclosure with a cosigner?

Yes. And you may be able to buy it without a co-signer.

Can a loan company place a lien on a cosigner's home?

They cant legally "threaten" to do do anything that they cant legally do, so the answer is YES, they can attach your home.

If you helped your mother get a home and her name is on the deed but yours is on the note and she has been missing payments is there an easy way out?

The only option to be removed as a cosigner is to have the secured property refinanced without the cosigner being involved.

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

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)

What if the home is paid off and only 5000 in debt do you have to sell the property for probate?

If there is $5000 in other assets, no. But if the only assets are the home, yes, it will have to be sold to settle the debts.

If you have assets in your home can you be force to sell it if you file bankruptcy?

If the value of the assets greatly exceed the allowable exemptions, then yes they can be seized.

What accounting convention is being applied when the owner's home computer is excluded from the assets of the business?

Business entity convention because owner’s assets must not be included with business assets

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