What are requirements for a co-signer for conventional loan?

Each Borrower needs to qualify based on income, credit and down payment. Co-Signer should also have 2 years of employment history at the same company or in the same field. Most recent paystubs, 2 years tax returns, 2 years W2's, Bank Statements will be requested. It is always nice have these supporting documents gathered when speaking to a Lender. Feel free to contact me if you need help. I am located in Costa Mesa. Jimmy Vu - American Financial Network - www.afndirect.com - 949.287.4134 - jvu@afncorp.com

Think of it as a joint application the same as a couple might make. Each of the borrowers will be equally obligated for the mortgage and qualification will be based on the combination of income, assets, credit, debts, etc. for both. For a co-signer who will not be living in the house, their current housing expenses are counted as part of the debt (mortgage, taxes, insurance and any HOA/regime dues).

Is this co-signer going to occupy the home with you? Big difference if they are not.

The information that you and the co signer would need to provide will depend on if the co signer if going to occupy the property. If the co signer is not going to occupy the property then the loan is going to be structured differently, Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been in the mortgage business since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803