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Getting a Mortgage With A Co-Signer

Will it help me to have a co-signer if i have bad credit? I really want to purchase a home in the Sacramento area by bobbyl383 from Davis, California. Sep 17th 2010 Reply


Brian Esquivel (currentazmortgagerates)
#24 ranked lender in Arizona - 67 contributions

Hi Bobby, a co-signer will not help you in regards to your credit profile due to the fact that lenders use the mid score of the borrower that has the lowest score between the two borrowers. For example, if you have a 550, 560 & 570 and your co-borrower has 700, 720 & 740, the banks will still use your 560 score for loan qualifying. I hope this helps. Best of luck, Brian

Sep 17th 2010
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Jesse Armendarez (Jesse_Armendarez)
#272 ranked lender in California - 5 contributions

It may, you really need to sit with a lender to see what is wrong with your credit you may be surprised sometimes it just a little things that changes you from a person who can't to a person who can buy a home. I don't work in your area but highly recommend you sit with a good lender that can explain to you what you need to become a home owner.

Sep 20th 2010
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Matt Davis (Matt Davis)
#148 ranked lender in California - 52 contributions

Hi Bobby,It really depends on the extent and issues that are keeping your scores low.Most brokers/lenders will be able to get you an honest answer, just mention that you have a co-signer if needed.Best,MattPier West Capital

Sep 20th 2010
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Crestico Funding (CresticoFunding)
#314 ranked lender in California - 336 contributions

Hello Bobby, Each borrower must have good enough credit to be on the loan, if your fico score is less than 620 or in some cases 580, then having you on the loan will cause a denial by lender. please feel free to call or email me to go over this more in depth, Houtan.Hormozian@Crestico.com 949 242 5215

Sep 20th 2010
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