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Updated over 4 years ago,
Should my mom co-sign for my mortgage loan?
My fiancé and I want to buy our first house but she is on a leave and I’m unemployed due to Covid, we have a sizable savings account but no income at the moment. We need help getting approved for a fha loan or any loan with a low down payment.
My moms house is paid off and she has no other mortgages, also her credit is decent. Should I pay her to co-sign for us? I want to buy a undervalue property so I can refinance it into my own loan once we go back to work.
Please let me know if this is a good option or even possible