I'm a college student right now with no income. My family is supporting me and paying all of my bills at the moment. A few years ago my mother and I needed to move around the same time, so we moved into a house together. We've been renting the house, but we've recently been approached by the owner and asked if we'd like to purchase it. Now, in my mind, this is her house, so I intend to move out eventually. After consulting with our banker and accountant, they both suggested that it would put us both in a preferable estate and tax position if I were to be a secondary signer of the mortgage and a co-owner on the deed.
I understand that there are many risks and intricacies of such a situation, but my question is this: what effect will being a secondary signer on this mortgage have on my ability to obtain credit in the future? As I have no income, I currently only have secured credit products which have given me an excellent credit score. However, will this mortgage prevent me from obtaining unsecured credit or other mortgages down the line when I do have a job and decide to move out? My fear is that this mortgage will push my debt to income ratio too high.