Want to buy house w/partner w/ FHA loan, was a cosigner, annual income $60,000?
Added (1). I was previously a co-signer on my stepmom's loan. I would like to buy my own home/get an FHA loan. I never claimed any first time buyer credits (etc). I can prove my stepmom made all pmnts.
Combined income of $60,000, down payment of $5,000, My credit score is 720, partner has none.
What is amount I could possibly borrow?
Would I even be able to borrow/get an FHA loan such as this?
What do I need to work on to strengthen my chances of qualifying for FHA loan, (if that's even possible)?
Added (2). Sorry I shouldn't have said partner. It will be my sister and we're in it for the long run, and are okay with a mortgage together. She would be my co signer.
Read more: https://allmortgage.net/forum/want-to-buy-house-w-partner-w-fha-loan-was-a-cosigner.html
