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can Mortgage cosigner contribute to down payment?

am i able to have my cosigner on my mortgage pay part of the down payment by gerrenfry8426958 from Norwood, Colorado. Jan 12th 2015 Reply


Nick Bebout (NickBebout)
#102 ranked lender in Colorado - 27 contributions

That is a great question. The down payment can absolutely be paid in part by the co-borrower The down payment can come from your funds, the co-borrower's funds, a gift from a family member, or it can come from an acceptable down payment assistance program. I would love to discuss this further with. Please feel free to give me a call at your convenience. Nick Bebout - American Liberty Mortgage - 303-407-0824

Jan 12th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,924 contributions

If you have a co-signer then yes.. either of you can contribute to the down payment and or closing costs.. certain loan programs also allow gifts for down payment as well, so long as the source of funds can be documented, you should have no problems.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jan 12th 2015
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#28 ranked lender in New York - 2,236 contributions

Yes it can.

Jan 12th 2015
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Jamie Ware (YourMortgageGuy)
#72 ranked lender in Pennsylvania - 44 contributions

Yes, and there are also programs available for that you could down 5% conventional and it can all be gift funds.

Jan 12th 2015
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Derick Condron (rightstartoregon)
#32 ranked lender in Oregon - 597 contributions

Yes that is not a problem at all.

Jan 12th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,522 contributions

All applicants on the loan are owners of the property... So YES, that person can contribute to the down payment. Most programs also allow the down payment to be a gift from a relative too, even if that person is NOT on the loan itself.

Jan 12th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,107 contributions

Yes, a co-signer can contribute to the down payment without any issues. Just remember that all down payment money needs to be sourced. If you have any questions or would like to get pre-approved you can reach me at 303-521-7169 or syoung@firstcal.net. Best wishes, Sean

Jan 12th 2015
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