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can you get a home loan with bad credit with a co-borrower with good credit?

cobra242003 asked:

I am looking to get a home loan. My credit is pretty bad filed bankruptcy about 3.5 yrs ago. My income to debt ratio is pretty good though. I also am going to have a co-borrower that has perfect credit. What companies would you recomend that would approve me and give me the best interest rate for my stiuation.

Asked on: 2009-12-14 23:19:13

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  1. freetronics says:

    yes, I was in the same situation. You’ll end up getting a higher interest rate, but you can always refinance after a year.

    Sometimes it’s easier to shop with a local lender. They can find programs to help you that the online place wouldn’t even bother with.

  2. mise says:

    Co-borrower might but you might not
    Depends on the company you ask

  3. tweety says:

    yes, but rude to ask someone to do that

  4. pcheesewhiz says:

    Absolutely and positively, yes. Having a co-signer will increase the likelihood of your getting a better rate as well as the opportunity to get a loan in the first place. It’s a free country. You can ask anyone you want to cosign the loan. There is nothing rude about it.

  5. Baby says:

    yes but have them there with you at all times. nb

  6. e fitz says:

    go to and they will match you up with someone who can lend to you. hopefully your credit is at least 500, but even so, you may still have a chance. if you bankruptcy was discharged more than 2 years ago, its a non-issue, and the co-borrower will help with the income, but their credit is irrelevant if you are the primary and your credit is bad

  7. Q~T says:

    Yes, but you may have a high rate. I’ve never known anyone to have perfect credit, but as long as their income can cover all the debt then you can get an okay rate. It also depends on whether you and your co signer has worked the same occupation for at least 2 years straight.

  8. Joe P says:

    Yes you can get any loan you want.Using co-borrower is not going to help with the interest rate.You will still have to pay up thru your nose.

  9. joniannuzzi says:

    You need to simply qualify. My dog can have loan these days.

    John I
    Loan officer

  10. Scott says:

    You will just have to shop around for the right loan. One thing the lenders will ask is if you were Released from the Bankruptcy…

    Then too sometimes with husbands and wives if one or the other has bad credit they will finance the property with using 1 or the other on the loan and the note and not putting the other on the loan but putting them on the Deed to the property…

    You just need to check around for the right lender and explain all the situation in person and take your co-borrower along…

  11. Lady C says:

    cause you filed bankruptcy recently and even with a co-borrower that has perfect credit i think your chances are very, very slim…

    Good Luck!

  12. Amanda H says:

    Your rate will be a bit higher, but here’s one problem: Does the co-borrower make more money than you? I once had an issue becuase I made more money but he had the better credit. Becuase I made the most money, they insisted that I be the “Primary”. So… Look into this. Try a mortgage broker if you’re super worried or do one of the biggies like Washington Mutual or Wells Fargo.

  13. jamesPurple says:

    You’ll get the loan, but you’ll pay a higher interest rate than if you both where “ok” with the credit bureau.

    If you shop your loan like you’d shop a car, chances are that you’ll get the best rate +4.

  14. Paul says:

    I found a solution that worked for me. It might work for you too.

    I had some pretty serious credit problems…some were not my fault and, I guess, a few were. I listened to the so-called “experts” who said they could fix my credit report and I spent money I didn’t have. I didn’t have any luck trying to get my credit report fixed.

    I remember paying for the services that these Credit Repair Companies had to offer. The companies told me that they could have negative items removed from my credit reports without any problem, Yeah, right. This did not happen at all. Most of the companies wanted to charge me a set up fee anywhere from $39 to $299 for their services. Not only did they charge this set up fee, most of them also wanted to charge me from $29 to $49 monthly while they “attempted” to repair my credit report. These companies offered no guarantee that their services would actually work and, believe me, they didn’t.

    I was about ready to give up when I found a lady who had been through the same thing and who had found a solution. She figured out how get all the negative items removed from her credit report within 3 months without paying anyone a penny. She developed a fast, easy, step-by-step process that she guarantees will work for everyone. She sells the complete plan with all the help and instructions for $47.00.

    I know what you are thinking…”another $47 down the drain,” and that’s kind of what I was thinking too. But, I figured that since she offers a 100% money back guarantee I had nothing to lose.

    Well, I tried it and it was amazing. I got all of the negative items removed from my credit report and my credit score went from 553 to 715 in only 3 months. All I can say is that it worked great for me. I suggest you check it out. You can always get your money back if it doesn’t work for you. If it works even half as well for you as it did for me you will never even think about asking for a refund.

    The information is on this site:

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