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A relative just asked me to cosign on a real estate home…

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A relative just asked me...
A relative just asked me to cosign on a real estate home loan, my credit record is average, also we plan to buy a house in 2018, what would be the effects if I sign as a cosigner?
If we buy a house it would be under the GI bill.
Submitted: 7 months ago.Category: Real Estate Law
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Answered in 5 minutes by:
12/11/2017
Real Estate Lawyer: RealEstateAnswer, Lawyer replied 7 months ago
RealEstateAnswer
Category: Real Estate Law
Satisfied Customers: 32,394
Experience: 10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help with your question and concern

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Real Estate Lawyer: RealEstateAnswer, Lawyer replied 7 months ago

Good afternoon. It would be an additional liability/ debt and could affect the debt to income, so the lender would take this into consideration. As such, it could be looked at by the lender, so if it is close in regard to your income and if you can afford this and what the lender will loan, it could be an issue.

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Real Estate Lawyer: RealEstateAnswer, Lawyer replied 7 months ago

I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!

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