Consumption and Real Estate
On a FHA home loan do they look at the co-signers credit/income?
My husband does not have good credit but makes way more than I do. My credit is 704 or higher I believe, our debt to income ratio is 20%. I have worked at my job for 2 years and he has worked at his for 6-7. We can afford to pay a mortgage payment of 1209 according to an FHA calculator.
If he is my co-signer would they just look at his income and not his credit? Or they would still look at everything?
Thank you
They will consider income AND credit standing. Both are important to lenders in determining whether or not to grant a mortgage loan. If his credit is poor, he will not be accepted as a valid co-signer any more than he would be accepted for a mortgage.