Need a cosigner with good income/credit
I am a recently divorced dad with high monthly income. I currently work for same company for over 18 years. Started a business in 2013, while keeping job, which failed & hurt credit score.Current scores are 710, 611 and 603. I have a home under contract, but 2 remaining negative items on Equifax is preventing.Need a cosigner with good credit score and good income. Cosigner only needed to qualify, I will be responsible for loan and refi out of cosigners name in less than 2 years. I'm very close, but a cosigner will get me over. Willing to pay $1,000 cash immediately after approval.Thanks, by myrtlewoodresort859 from , California. Feb 3rd 2019
Jackie A Graves (changemyrate)
#168 ranked lender in California - 8 contributions
We have an FHA purchase money loan with a minimum credit score of 580. Call us 562-981-7700.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Sorry, but it doesn't work that way.. A cosigner does not help if you have low credit scores, since loan pricing and approvals are based on the LOWEST mid score of ALL borrowers.. you could have mom and dad with 800 credit scores cosign and it wouldn't change your situation. A cosigner only helps if you have a debt to income problem. By adding a cosigner with a low DTI, the lender allows your income to be combined and your debts to be combined to calculate a combined DTI.. Also, depending on the program, you can only use a relative or a lifelong friend.. What you are asking for is considered loan fraud.. All loan fraud is investigated by the FBI.. You should rethink your strategy,,, get with a credit repair specialist, and apply once your scores improve. Also, there are loan programs that allow you to purchase with a 611 mid score.. FHA is a good option, but they only allow for lower loan amounts.. I'm a preferred Lender with California and Arizona being my primary markets. 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 NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893
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