I need my parents to co-sign on a home loan?

My parents only concern is that they are planning on moving from their current home into a new home within the next 2-3 years. Will this affect their ability to get a new home loan?

2 Answers

  • 7 years ago
    Favourite answer

    If you don't qualify for a home loan by yourself, you are asking a huge favor of someone else to cosign for you and put their credit rating at risk. I suggest you don't put your parents in that situation unless you are very confident about maintaining your job and income and paying all your bills. The fact that you don't qualify for this loan on your own tells me you're probably not in a position to be so confident.

  • 7 years ago

    Yes, it would make a difference. Don't ask them now.

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