Can a parent cosign on a mortgage if they already are a homeowner with their own mortgage?
I want to buy a home soon but was told I may need a cosigner in order to qualify. by JerryDubrow738 from Memphis, Tennessee. Jan 26th 2017
Nancy J Releford (nancyreleford)
#4 ranked lender in Tennessee - 233 contributions
Yes they can on an FHA loan. They will have to qualify with their income & also their debts including their mortgage.
William J Acres (William_Acres)
#75 ranked lender in Arizona - 8,728 contributions
Yes.. so long as they earn enough income, and they can qualify with the new housing payment, then it's not a problem.. in fact they can own several homes.. I'm a preferred Lender with Arizona and California 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 / RPM Mortgage NMLS 1541014 / AZMB0121893
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