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Updated almost 7 years ago,
Any sort of way to guarantee a loan without being on it?
Hello,
I am in a position where my Dad would potentially be willing to let me use some of his reserves as "backup" as you might say as I invest in properties since I am not cash heavy.
I can pay for the deal to make it work, however my DTI might be a little high warding off the underwriter.
Is there a way on loans to put some sort of contingency on the loan like, if I default that he will be liable without having the loan show up on his credit?
Thanks!