Housing Market: Can You Get a Mortgage With More Than One Co-Borrower? [Yahoo! Finance]
Federal National Mortgage Association (FNMA)
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Source: Yahoo! Finance
Check Out: 8 Places Where Houses Are Suddenly Major Bargains Read Next: How To Get $340 Per Year in Cash Back on Gas and Other Things You Already Buy If one co-borrower is good, might more be better? Possibly — but don't push it too far. Although the law doesn't limit the number of co-borrowers you have, your lender might. Sponsored: Owe the IRS $10K or more? Schedule a FREE consultation to see if you qualify for tax relief. How Many Co-Borrowers Do Lenders Typically Allow? A co-borrower is a joint applicant on the mortgage loan. They have equal responsibility for repaying the loan, which means they, like the “primary” applicant, are responsible for the total loan amount, not just a fractional portion of it. It seems logical that more co-borrowers would be better because it reduces the risk that the borrowers will default on the loan. In practice, however, more than four co-borrowers on an application creates red tape the loan originator might not want to deal with. Mos
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News
- Atlanta Housing President and Chief Executive Officer Terri M. Lee Announces First Major Leadership Change [Yahoo! Finance]Yahoo! Finance
- UWM cuts out title insurer with updated TRAC+ program, rolls out 0% down purchase initiative [Yahoo! Finance]Yahoo! Finance
- Housing boom in most of the US could ease shortage, but cost is still a problem [Yahoo! Finance]Yahoo! Finance
- CrossCountry Mortgage Offers Exclusive and Complimentary Line of Duty Death Benefit to First Responders and Their Families [Yahoo! Finance]Yahoo! Finance
- Fannie Mae Announces the Results of its Thirty-first Reperforming Loan Sale TransactionPR Newswire
FNMA
Analyst Actions
- 2/26/24 - Keefe, Bruyette & Woods
FNMA
Sec Filings
- 5/14/24 - Form 3
- 5/14/24 - Form 8-K
- 5/13/24 - Form ABS-15G/A
- FNMA's page on the SEC website