who is on mortgage loan?

my husband and I are buying a condo for his parents. His parents don't have credit history in US. we both have good credit scores.

My questions is to get a lower interest rate of the loan, shall we put either my husband or I (whoever has a higher score), or both my husband and I, or his parents and us on the mortgage loan?

If we don't put his parents on the loan, can we still put them on the title and they can get senior and home owner exemptions?

HEATHER2009-02-03T19:33:55Z

Favorite Answer

1. You can not lie on the application for the loan to say you will be living there. To do so is committing fraud.
2. Only the people on the mortgage (you and hubby) should be on the deed to protect yourselves.
3. If his parents are not on the mortgage, no exemptions.