Co-Signer on Mortgage

[Ellie Johnson]

We are rehabbing a house right now with hard money. We want to refinance in July to a traditional mortgage. We will be living on the main level and renting out the upstairs. We started a new company so qualifying for a traditional mortgage is near impossible. Looking for a low interest rate and wanting to see if anyone knows of, or would want to partner on this. We’d be looking for a co-signer on the mortgage and pay a monthly commission for this.

We can get a bank statement loan for 5% interest. Whatever interested rate the co-signer can secure we’d split the monthly interest savings. So, for example, if they could secure a 3% interest and that meant a $400 less payment for us we’d pay $200 commission monthly to the co-signer.

The mortgage will be right around $412,000.