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What is the effect of your ability to get a home purchase loan if you are already a co-signer on another mortgage and the co-signed loan is in good standing and on your credit report?
Wiki User
∙ 16y ago
If that debt is reporting on your credit, then it would affect your debt to income ratio, meaning the amount of debt you can carry. If that mortgage, even if it is good standing, shows a debt against you, you might not have enough income to cover both loans.
Wiki User
∙ 16y ago
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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.
If there is a cosigner can they take the vehicle if the loan is in good standing in North Carolina?
No, a co-signer has no legal right to a vehicle unless they are on the title.
How do you purchase the balance of home that had a Reverse Mortgage on it?
First, you must have legal standing to pay off the mortgage. That means you must be the original mortgagor or an heir of the original mortgagor. You must contact the bank that holds the mortgage and pay off all amounts due. Otherwise, if the mortgagor has died and the bank owns the property, you can contact the bank and let it know you are interested in purchasing the property.
What is the current refinance mortgage rates?
If you are refinancing your mortgage for a 30 year fixed rate you can expect a rate of about 4.250% and if you are refinancing your mortgage for a 15 year fixed rate you can expect a rate of about 3.375%. Of course, this will vary with credit rating, current mortgage standing, etc.
What are the requirements for a no fee remortgage?
The requirements for a no-fee refinance mortgage are being in good standing with your current mortgage, having sufficient income, and having a good debt-to-income ratio. The requirements for a no-fee refinance mortgage are essentially the same as for any other type of mortgage.
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.
What features does the Wachovia mortgage have?
The Wachovia mortgage features the lowest mortgage rates on the market. In order to apply for a Wachovia mortgage, you must have an account with Wachovia in good standing.
If there is a cosigner can they take the vehicle if the loan is in good standing in North Carolina?
No, a co-signer has no legal right to a vehicle unless they are on the title.
How do you purchase the balance of home that had a Reverse Mortgage on it?
First, you must have legal standing to pay off the mortgage. That means you must be the original mortgagor or an heir of the original mortgagor. You must contact the bank that holds the mortgage and pay off all amounts due. Otherwise, if the mortgagor has died and the bank owns the property, you can contact the bank and let it know you are interested in purchasing the property.
Can the cosigner be taken off the auto loan contract if stated and the loan is in good standing for 12 months?
No the co-signer is on for the life of the loan
What are the requirements for a no fee remortgage?
The requirements for a no-fee refinance mortgage are being in good standing with your current mortgage, having sufficient income, and having a good debt-to-income ratio. The requirements for a no-fee refinance mortgage are essentially the same as for any other type of mortgage.
What is the current refinance mortgage rates?
If you are refinancing your mortgage for a 30 year fixed rate you can expect a rate of about 4.250% and if you are refinancing your mortgage for a 15 year fixed rate you can expect a rate of about 3.375%. Of course, this will vary with credit rating, current mortgage standing, etc.
Can you apply for a mortgage on property you have no title to?
No. You would have no standing to pledge property you don't own to obtain a loan.
Is Natwest Mortgage a reliable company to invest in?
"Yes, Natwest Mortgage is a well known and respected UK firm. Anytime you invest your money, you are running a certain amount of risk, but Natwest Mortgage is one of Bytestart's banking partners, and enjoys a long-standing reputation"
What are the current mortgage rates for a 30 year fixed in Dallas?
Current mortgage rates for a 30 year fixed in Dallas would be about $ 600.00 a month. If you are in good standing and have credit payments may be less.
What does PITI stand for in insurance?
PITI is normally used in conjunction with mortgage payments, standing for Principal, Interest, Taxes and Insurance.
Does cosigning a loan go on your credit report if the loan is in good standing?
Your cosigner's credit report should also reflect the loan. In this case, it should show as paid on time as agreed.
