Questions regarding co-borrowers

[Anonymous]

A few questions for the experts...

1) My GF and I share a credit card so the account shows up on each of our credit reports. I assume the lender will only count this minimum payment once, correct?

2) She also shares an account with her father whom has a balance of roughly 4K. Is there anyway we can eliminate this minimum payment even though there's really no way to prove it isn't her debt?

3)  All three of my GF's credit scores are 760 or above. Mine are around 700. Will the lender automatically use my middle score because it's the lowest of the two? Does it make any difference if she is a 'primary' borrow and I am a co-signer? If that makes any sense.

Thanks! 

[ShanetheMortgageMan]

1. Yes

2. Provide up to 12 months of cancelled checks or bank statements from the father's account showing he makes the payments on it

3. The lowest qualifying score of all borrowers is used.  The qualifying score is the middle of 3 or the lower of 2.  If you are going for conventional financing then a 720 score will qualify for the best rates, if you are going for FHA then a 620 score will qualify for the best rates.

[Anonymous]

Awesome - thanks!

[ShanetheMortgageMan]

Welcome!