My fiance and I are looking at buying a house. I own a rental property currently but she has never bought a house. We would like to find a way for her to qualify for the house on her own to take advantage of the first time homebuyer credit.
Is there a way for me to sign something like a lease or something similar that obligates me to pay her a certain amount of money every month that she could count as ';income';? Any ideas?Can this be counted as income for a mortgage?
Yes, you become a co-signer for the mortgage. People do it alot when one person doesnt have the credit to do it. She has to keep the morgage for 3 years, at that time, you will want to re-finance and become co-owner on the mortgage, but before then its really like she is buying the house and you are just financially supporting her. syanchuk@comcast.net if you have any more questions pertaining to the first time homebuyer or other issues with this (short vs foreclosure) etc.Can this be counted as income for a mortgage?
Is it possible for her to be a free-lancer?
Let her send you a bill every month
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