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Updated almost 11 years ago on . Most recent reply

User Stats

20
Posts
2
Votes
Nikolay Voronovich
  • Pasadena, CA
2
Votes |
20
Posts

Looking for co-signer.

Nikolay Voronovich
  • Pasadena, CA
Posted

Hello fellow investors.

I want to ask your advice.

I find home where I want to live. And I know I can pay for this. But can not qualify for credit. What I can offer to potential co signer to make it interesting for him. Any ideas ,thoughts..? Will appreciate a lot. Thanks.

Condo in Pasadena. Close to rose bowl. Shows mortgage at 2155. I currently pay 1525 in rents and just paid my car which was 400 a month. So I definitely can pay for this. But due to last two ears tax reports I can only afford 1500 mortgage. I am self employed professional. So last year was not planing for house and write- off all my deductions.

Looking forward to hear opinions and maybe offers.

Most Popular Reply

User Stats

566
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272
Votes
Chris Winterhalter
  • Investor
  • Chicago, IL
272
Votes |
566
Posts
Chris Winterhalter
  • Investor
  • Chicago, IL
Replied

@Albert Bui

It might be helpful if you posted a few of your tips on the thread. For example from my understanding it's important to have the following for conventional financing:

-Continuity of profession

-No declining income

-Two years of tax returns with solid income based on what you are purchasing.

-Seasoned cash reserves in personal accounts as business accounts will require much more due diligence from underwriting.

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