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Home Buying Advice Needed!!

Posted by on Dec. 29, 2013 at 11:17 AM
  • 1 Replies

What is the difference when buying a home that is being sold by owner and by broker?

Is having a cosigner on a home loan the same as one on a car loan?


My hubby's credit is better then it use to be, we have been working on it the last few years to get to the point that we can get approved for a home loan. It is finally in the low 600s, not sure if we can get approved yet or not, so I thought we could have my dad co sign who has excellent credit.

by on Dec. 29, 2013 at 11:17 AM
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coolmommy2x
by Ruby Member on Dec. 29, 2013 at 12:01 PM
A broker will receive a commission for the sale. That will mean less money for the seller so they will have to either accept that or agree to a higher price to cover that loss (generally speaking...as with anything, there are exceptions and ways to work around it). If an owner is selling it on his own, there is no commission to pay.

Yes, a co-signor works the same way...if you can't pay the loan, your father will be responsible for paying it.
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