Timeline for Will having a secondary signee with bad credit on a mortgage raise or lower interest?
Current License: CC BY-SA 4.0
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| Jul 6, 2018 at 18:26 | history | edited | Pete B. | CC BY-SA 4.0 |
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| Sep 17, 2017 at 0:48 | comment | added | Acccumulation | So if someone with bad credit applies, adding someone with good credit as co-signer won't help? | |
| Aug 24, 2016 at 19:15 | history | edited | Pete B. | CC BY-SA 3.0 |
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| Aug 24, 2016 at 18:59 | comment | added | stannius | There's a bit of a chicken-and-egg aspect of this situation. Because lenders will use the lowest credit score, applicants will only include the lower-scored applicant if they need her (or his) income to meet the debt to income ratio. Because applicants will only include the lower scored applicant if they need to, lenders know that both incomes will be required to service the debt; so if either fails to keep up with their credit obligations, the mortgage will become delinquent. | |
| Aug 24, 2016 at 13:03 | history | edited | Aganju | CC BY-SA 3.0 |
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| Aug 24, 2016 at 12:39 | history | answered | Pete B. | CC BY-SA 3.0 |