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Updated almost 7 years ago,

User Stats

50
Posts
7
Votes
Justin Wilcox
  • Investor
  • Mesa, AZ
7
Votes |
50
Posts

Any sort of way to guarantee a loan without being on it?

Justin Wilcox
  • Investor
  • Mesa, AZ
Posted

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!  

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