Video Transcript:
A strong helper seems great. But for a home loan, they will only use the lower money score. This one hidden rule can cost you money. I’m David Ghazaryan, and I build these loan plans. Lenders add your helper's income, but also all of their bills. This math often makes things worse. If you are late on one payment, it hurts their good name too. Their perfect money score could drop by a lot, taking years to fix again. This loan can stop your helper from getting their own new loans later on. The home payment is counted against them, even if you always pay it. Removing your helper is not easy. You cannot just ask to take their name off the papers. You must get a whole new loan by yourself later. There are safer ways to help. I wrote about better plans in the full article. You can find that and my socials using the links in the description.
Read Blog Here: https://www.iqratemortgages.com/blog/real-risks-of-a-co-signed-mortgage-in-nevada
