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Can I Partner?

Regular Contributor

Can I Partner?

If I have low income with good credit can I partner with a family member who has a 475-550 FICO and good income to qualify?
Wanting to get an FHA if possible.

I am correct to believe that I can still get a loan if I got my first home with a conventional last year?
2 REPLIES
Regular Contributor

Re: Can I Partner?

The lower score is used on the loan. FHA does allow for non resident co borrower but their credit still has to qualify.
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Established Member

Re: Can I Partner?


Vizion wrote:
If I have low income with good credit can I partner with a family member who has a 475-550 FICO and good income to qualify?
Wanting to get an FHA if possible. They will look at your and your partners 3 mortgage scores and take the lowest middle score. Example: Yours: 700 680 710 Your Partners: 550 475 520..... They would use the score of 520.

I am correct to believe that I can still get a loan if I got my first home with a conventional last year?

 

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