Hi, I own a 2 family house with my sister in NJ. I am on the mortgage , she is not but we are both on the deed. My mortgage is very low at $333.00 a month I have had this mortgage for 13 years and have never been late or missed a payment. I want to retire to another State. With me being the only one on the mortgage my DTI is too high to qualify for another mortgage, my broker said to me if I can refinance and put my sister on the the mortgage with me it will bring my DTI to where it needs to be becuase the underwriters will now only calculate half of the total of the mortgage, taxes and home insurance.
But now she says that if I put my sister on the new mortgage the underwriters will want a 12 month seasoning period before I can look for another house, she siad this is a Freddie Mack Fannie May stipulation and I would like to know if this is true? Thanks
