ANSWERS: 2
  • Yes, you can be on title even if the loan is being paid by someone else. Much depends on what the lender the other party (you parents) need as security. For example, the mortgage could be in your name with your parents as guarantors. If the lender is okay with that, then you have no problem. Sorry, but the answer is going to be..it depends.
  • Yes, it is advisable that you be placed in title at closing. If your credit is not too bad, it may also be prudent to place you on the loan so that you can receive credit for payments to improve your credit scores. As your loan officer if this is possible. If you are not of the age of majority, however, it will not work.

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