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Can you get a first time buyer loan if you are starting a new job and you get paid by commission?

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2008-11-02 00:15:41
2008-11-02 00:15:41

I don't think getting paid on commission will present as much of an obstacle as the fact that your husband has only held his current job for 3 months so far. Banks and mortgage companies usually prefer you've held a job for about two years if I recall correctly. I don't know what his past work history looks like, but it could help if it shows can and has held down a job previously. If your credit is as good as you say that will help a lot. A tip: it's possible to have too much credit. If you have credit cards with a high amount of credit available, banks may consider this risky. They don't want to loan someone a lot of money only to have them turn around and max out their credit cards and end up unable to repay the mortgage. And while having a down payment is helpful, it is certainly not necessary.

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Yes, he or she would be equally responsible for the repayment of the loan balance.

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it depends on who the co-buyer is if it is your husband or wife then you can ask and they will most likely say yes. but no

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IF your name is on the LOAN papers, you are the co-signor and responsible for paying the loan if the debtor doesnt.

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Transfer an existing loan if buyer qualifies.

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Your best bet when shopping around for a home buyer loan or a mortgage is to use a mortage broker. They will do the shopping around for you and get you the best rate. There is no fee to you for using a mortgage broker.

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No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.


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