i have a house under my name but am not paying for, can i qualify for another home?

its my aunts house she only has a ETIN number and she's been paying the house for about 7 years. the house loan was for 80,000
(0) | asked by: Rigoberto Razo | share | 2 months ago | Report
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answer by Sonal Shah    |   Visit My Website   |   Contact Me
yes- if it is conventional loan you are applying. Lender will ask 12 months proof to prove that mortgage payment was paid by someone else + few more things. it is definitely worth a shot. For a new home LTV restriction may apply.
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answer by Ron and Becky Barber    |   Contact Me
To my knowledge, you are still responsible for this loan payment, therefore, you will need to contact the lender and see what options you have. Depending on your income and debt/ration would either qualify/disqualify you for another loan. Consult the lender to confirm.
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David  Wilson
answer by DAVID   
Yes you can qualified to purchase another house.
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answer by Elvira Beltran    |   Visit My Website   |   Contact Me
Hi There, yes you can qualified to purchase a house. If you can prove that your aunt is paying for. call me
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answer by Angel Kuite    |   Visit My Website   |   Contact Me
That would be a question to ask your lender. The lender would consider the home your aunt lives in as an investment property, and not your primary residence. There are normally stricter guidelines for owning more than one property. Lenders normally require the new house payment plus your existing monthly credit obligations (which will include the home that your aunt lives in) not to exceed 43 percent of your gross monthly income. I can only give you the best and most complete answer I can upon my own knowledge as a real estate agent. I would recommend you asking a lending professional for a complete accurate answer.
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