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Updated about 4 years ago on . Most recent reply
How Much to offer my co signer (Close Family Member)
I am asking a family member to co sign on a construction loan for 1 year. This family member will not be providing any funds, they are just offering their qualifying income to me.
What type of percentage should I be offering them upon closing?
The construction loan will be for roughly $168k. With a profit margin of $130K after sale and fees but before taxes.
My only out of pocket costs include:
-Construction loan DP ($5000)
-Permits and Utilities ($~6000)
Let me know if you need more details! Any insight is appreciated
Most Popular Reply
![Nicholas Field's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/564627/1621492702-avatar-nicholasf24.jpg?twic=v1/output=image/crop=1608x1608@699x519/cover=128x128&v=2)
Up to 3% guarantee fee is common in the industry.
They guarantee $500k you pay $15,000 to them.
Up it for family.