Co sign question from a Wisconsin real estate blog reader

July 27, 2009

QUESTION from blog reader: "what if i am a first time home buyer but i need a co signer for the loan, but i will be the only one on the deed. do i still qualify for the $8000 tax credit?"

ANSWER: "most programs and lenders do not take co-signers and if they would they probably will require them to be on title. If they are on title then neither one of them could have owned a house over the last three years to be able to qualify for the $8000. I am not aware of anyone who might do that.

Hopefully this helps.

Harold Bloch, American Foundations MortgageBanc"

Note: First Weber Group has a relationship with AMFB, among others, and thus is the mortgage source we turn to for specific questions regarding loans.

Sometimes the answer you get is not the answer you want to hear.  It is best to deal with a broker who will give you the facts and a straight answer, not be sold. Let us know if you need further help and thank you for your question

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