🙅🏻 Don't cosign on the house #shorts

🏡 An FHA loan is a great way to purchase your first home. It allows you to buy a property with just 3.5% down and you don’t need a high credit score to qualify.

💰 But one of the downsides is that you can only have one active FHA loan at a time.

Normally, you would have to sell your home or refinance out of the FHA loan to get another one.

👩‍❤️‍👨 However, you can get around this by getting a loan in your own name, then getting another one in the future under your spouse’s name!

In fact, we do this all the time with conventional loans so that we can double the amount of loans that we qualify for.

✅ Qualifying for a home loan with just one spouse’s income may not be easy, but it’s worth it if you can make it work.

🤔 What are your thoughts about NOT cosigning on a house?

#realestate #cosign #fhaloan #mortgage #homeloan #mortgagetips #mortgagehacks #realestatehacks

[coreygreen]

Smart never co-sign Always individual loans

[ezequielarce]

I have a question that has been asked probably but I haven’t come across it on a video.

1) I have a coventional loan does that mean I can apply for an FHA loan in an investment property?

2) can my wife grab an FHA loan in an investment property? I say investment because obviously we are not
Moving there Nor am I trying to lie to bank and saying we are moving and we are not.

[Jayl__]

I don’t know in Canada they made my partner co-sign and was concerned that we didn’t have a joint account yet… depends on the house price though. One persons income can rare afford real estate in Toronto Canada

[scottdavis]

2 years later, wife files divorce, splits the assets, takes the kids, collects alimony and child support... Guy pays the attorney bills

[inthevanwithalexa]

Also can you do a video on how to buy a second house without using equity in the first one the problem is debt to income but just want to rent the second one out tell me how please Ty!

[godwll]

i was told recently that in order to do this there cant be ANYTHING tying us together. so not only cant we cosign on the first but we cant have joint bank accounts and we cant file taxes jointly which obviously means you cant be married. maybe this is just tied to my area?

[inthevanwithalexa]

Can the wife get an fha loan if she is not working? Using her husbands income if not what else can the couple do ? To get into another house ?