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Can I apply for a mortgage with my dad?

by nickhartzman from Inver Grove Heights, Minnesota. Aug 6th 2013 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,623 contributions

Sure... We even allow for Dad to not occupy the house with you if that is what you need. I am just right around the corner in West St Paul. Stop in, call (651) 552-3681, or visit MNBestRates.com to apply.

Aug 6th 2013
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Jonathan Rhode (jrhode)
#158 ranked lender in California - 130 contributions

Yes.You can for sure..

Aug 6th 2013
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Tim Swierczek (TimSwierczek)
#24 ranked lender in Minnesota - 22 contributions

Hi Nick, Yes you can. There are a few options depending on the amount of down payment you have and if your dad will be living with you, but the short answer is yes. Please call or email me if you would like to talk specifics 651-772-9000 or tim@timswierczek.com

Aug 6th 2013
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Linda Miller (Linda Miller)
#2 ranked lender in Utah - 566 contributions

Yes, both you and your Dad can be on the mortgage but there are different guidelines depending on whether your best option is a conventional or FHA loan. Your best bet is to contact a Lender 411 Mortgage Professional in your area. They can go over your situation and give you the best advice. Good Luck.

Aug 6th 2013
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David Kosmecki (David_Kosmecki)
#38 ranked lender in Minnesota - 256 contributions

Yes you can. Adding a non-occupying co-borrower will help with income qualifying if that's a concern or if you both want to own together, no problem. It won't help if the issue is credit problems. With my 35 years experience in the industry, I can help make your transaction smooth a speed bump free. I can be reached at 763-519-1100. Good luck!

Aug 6th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Yes, you can.

Aug 6th 2013
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Melissa Weintraub (MelissaW)
#214 ranked lender in Florida - 2 contributions

Yes, you can apply for a mortgage with your dad.

Aug 6th 2013
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,145 contributions

Yes.. many different loan programs and scenarios are available if your parent is willing to sign... your best bet is to contact someone local (Like Joe Metzler), and apply with them.. by dealing with a local broker, you have a huge advantage since he will be familiar with local intricacies that most out of state lender have no idea about, which in turn will make your transaction go much more smoothly.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Aug 6th 2013
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Adrielle Edwards (AdrielleEdwards)
#884 ranked lender in California - 96 contributions

Definitely, this is a fairly easy process. Speak with a local mortgage banker such as Joe Metzler to get started.

Aug 6th 2013
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Dave Metsker (DaveMetsker)
#39 ranked lender in Oregon - 2,317 contributions

If dad is over 62, and there is a large down payment, or lots of equity, you may want to look at a reverse mortgage.

Aug 6th 2013
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Ken Graczak - NMLS 184394 (KenGraczak)
#29 ranked lender in Minnesota - 21 contributions

yes

Aug 6th 2013
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Steven Cook (stcookmortgage@gmail.com)
#41 ranked lender in Washington - 256 contributions

All good answers so far, all I would add, is that you should find a local, licensed mortgage originator to assist you in sorting through your options. If theyonly provide one choice, find someone who will show you benefits and problems of various programs.

Aug 6th 2013
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Elden Lewis (elewis_409_299)
#41 ranked lender in Indiana - 223 contributions

Generally speaking I would say yes. There are several ways you could go. Like everyone else here, find someone local to deal with and explain your situation to find whats best for you.

Aug 6th 2013
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Pete Bass (PeteBass)
#31 ranked lender in Connecticut - 476 contributions

Yes,there are programs available to have your Dad on the mortgage with you- Check with your local community bank to see what programs they offer.

Aug 6th 2013
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Mary Chris Gallo (MaryChrisGallo)
#49 ranked lender in Minnesota - 116 contributions

Absolutely! There are many options to include your Dad as a co-borrower. However, the real question is: Does Dad want to apply for a mortgage with you? I don't mean that to sound sarcastic...but if he does, he's obligated on the loan and it will likely limit his own purchasing power should he want to finance something of his own in the future. This mortgage payment will always be with him ...until you can refinance and remove him. I would suggest that you contact a very mortgage originator and have someone take a very close look at what you're doing and if, possibly, you have other options.

Aug 6th 2013
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David Sanders (David_Sanders)
#788 ranked lender in California - 59 contributions

Indeed you can Nick. I'd call Joe to see if you qualify....

Aug 6th 2013
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

Yes you can.

Aug 6th 2013
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