mortgage with cosignor or guarnator
Hi,
Our broker has told us he can get a preapproval for us but he said it is 50/50 when it goes to CMHC. I asked if we could use a cosignor and he said yes. Our income is great and credit scores are okay but not enough credit history after we paid off and closed a bunch of accounts last year. Our income is about $80,000 (can't include my $16,000 from contract work) and the house is listed for $239,900 (eastern Ontario) and we plan to offer about 230,000 as it has been for sale for about a year. We do have someone who will help. We plan to remove this person in a year or less when we have more credit history. Any advice?
Our broker has told us he can get a preapproval for us but he said it is 50/50 when it goes to CMHC. I asked if we could use a cosignor and he said yes. Our income is great and credit scores are okay but not enough credit history after we paid off and closed a bunch of accounts last year. Our income is about $80,000 (can't include my $16,000 from contract work) and the house is listed for $239,900 (eastern Ontario) and we plan to offer about 230,000 as it has been for sale for about a year. We do have someone who will help. We plan to remove this person in a year or less when we have more credit history. Any advice?