SpoogleDrummer

Hello again,

I've read and re-read the finances information on how to get a credit rating and history and am following it, but since I've been here I've been living with my brother-in-law and wife in his house, so although we wanted our own house it wasn't too urgent, unfortunately my wife's credit isn't very good at the moment so when we applied for a mortgage we got turned down.

We then applied using her father as a co-signer and still got turned down, apparently due to her medical bills on her record. After that we gave up and thought we'd just work on my credit score and try again later, but we've just found out my wife is expecting in August if all goes well and my brother-in-law's house is no place to bring up a baby, or to be heavily pregnant.

So I'm wondering if it would make any difference if I (rather than my wife) applied for a mortgage with my father-in-law as a co-signer as there's nothing bad on my short history, just a lack of history. I don't want to just apply and get rejected, especially as the woman we've dealt with so far for the applications has been like a chocolate teapot.

So does anyone know if the co-signer would make much difference or would I still be classed as not worthy?

Deedee13

a chocolate teapot?

Are u using the same broker all the time?

where abouts are u?

SpoogleDrummer

Chocolate teapot = useless. It might be lost in translation as back in the uk tea is always hot so a chocolate teapot would melt, thus it would be useless.

We've used the same bank for both applications yes, we got some quotes from elsewhere but the people giving them seemed a little shady so I'd rather go with a bank.

We're in Tennessee, though only just as we live right by the Alabama boarder.

fatbrit

No -- you need to shop it with an independent broker, not a bank. They are more likely to fit you into a suitable slot.

SpoogleDrummer

Thanks very much

Deedee13

always had a lot better luck with a broker, they seem to find the mortgage that fits the needs, rather than be limited to one bank!!
there are some sharks out there, so beware, but i am sure there are people in ur area that can direct u in the right spot. Its def a buyers market if u can afford one at the moment.

Bob

don't be a pillock and shop around, plenty of other banks will give you a look in, even if you don't bank with them...and it's a good hook to get extra business by opening an account with them...though you don't have to...

kins

You don't actually need a co-signer to get a mortgage, even if you have no credit history here. We recently got a mortgage despite having no history here.

We had to supply a massive number of documents from the UK and they screwed it up badly enough that our closing date was put back a couple of days before we were due to close... but in the end we got our mortgage.

We are with Bank of America. Mind you, the only good thing they've done is give us the mortgage - in every other sense they've *****ed up royally and are continuing to do so.

We did actually have a potential co-signer (millionaire CEO of the company my husband works for) but the bank told us that we were better off applying without him because of his level of debt...