Do You Have A Thin Credit Profile, Shortage Of
Income, Or Other Issue That May Tilt The Scales
Against You When Qualifying For A Mortgage?
This is a problem faced by many hard working people looking to own their piece of the “American Dream.” Get the extra help you need and have your loan Approved quickly with SLG’s Co-Signed Mortgage.
A Co-Signed Mortgage is a loan where a co-signer, who may or may not occupy the home, signs jointly with the borrower to guarantee payment, thereby helping the borrower obtain Loan Approval.
Specialty Lenders Group Co-Signed Mortgage
Product May Be Just What You Need!
Most co-signed mortgage applications are very close to gaining Loan Approval on their own, but need a little extra help getting across the finish line. For instance, the maximum debt-to-income ratio on a particular loan product may be 43% and the borrower’s ratio is 47%. The additional income from a co-signer, along with other factors, will likely reduce the ratios and lead to Loan Approval.
Before approaching someone about helping you qualify, it’s important to note that there’s a difference between Co-signers and Co-borrowers:
Co-signers will join the borrower on the loan application and are responsible for the mortgage payments, but they have no ownership interest in the home.
Co–borrowers will join the borrower on the loan application and are responsible for the mortgage payments. Co-borrowers are added to the property title at closing and have an ownership interest in the home.
- The borrower is free to have a Co-signer or a Co-borrower, as long as everyone agrees.
So if you need a little help, and you’ve got a co-signer, or co-borrower (relative, associate, or friend), Specialty Lenders will work with you both. We can help you. Contact us today and let us walk you through the process. We promise that you’ll feel at home, every step of the way.
And remember, owning a home is considered part of the American Dream because of the related benefits. As you go through the process, focus on these things and you’ll be moving into your new home before you know it:
- You’ll build equity and value (wealth over time)
- You’ll have the freedom to renovate or modify your home as you please
- Install green energy components to save costs and improve the environment
- Most borrowers can deduct the interest from their mortgage payments
- Enjoy the dignity and pride of homeownership
- You’ll OWN a private place for your children and pets to roam and play
- Enjoy visitors as often and as long as you like
- Your home is your castle where you’ll ultimately be in control of your family’s comfort, stability and security
To find out more about SLG’s Co-Signer Loans, please contact us today.
Call 855.SLG.FUND (855.754.3863) or inquire below.
Square Peg? Round Hole?
We can help you.