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Updated over 5 years ago on . Most recent reply

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11
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9
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AJ Dhillon
9
Votes |
11
Posts

Joint Venture - Can only 1 partner qualify for mortgage

AJ Dhillon
Posted

Hello, I had a large amount of capital, but I cannot qualify for mortgages so I am looking for a way around that. If I were to recruit partners is the following scenario possible.

We both put 50% of the down payment in, but only my partner uses his income to qualify for the mortgage. Would we both go on title this way or would the bank not want a second person on title? Could we both go on the mortgage, but only my partners income used to qualify for the financing?

The reason I ask is because I have plenty of people who would go 50/50 with me on multiple properties, but I will not qualify for mortgages so I was trying to see what the best way to work around that is.

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