Can my mom help me and my boyfriend qualify for a home loan?

Yes - your mother can help by co-signing the mortgage with you and your boyfriend. Do not put her name on the title or you will lose the first-time home buyer's tax credit. Have her "gift" you the down payment by writing what is called a "gift letter" - this ties up a bunch of loose ends when you go to qualify.

You could have your Mom cosign on your mortgage. That would be a very big responsibility on her behalf, but definitely would make your chances signiciantly better if you have an additional person with good home buying credit. I'm not sure if you'll still be eligable for the credit (which by the way, it's about to go from $6000 to $12000!!!) but I'm sure since you & your boyfriend can both me on the mortgage you'll qualify for the grant.

I would definitely talk to your Mom about her feelings on cosigning a mortgage. If you have her help you out it won't be hard at all to get a good interest rate from a good company. But even without your Mom you still wouldn't have too much of a difficulty getting a loan as long as your credit isn't terrible.

Hope this helps :)

You and your boyfriend would need to qualify for first time home buyers loan in your own name you Mom could co-sign and use her homes equity as collateral for the home loan. Check with a bank or mortgage company to see what the three of you qualify for. Happy house hunting.

Since your mom already owns a home to qualify for the first time buyer rebate, the condo would have to be in either your name, your boyfriends name or both.

Dear...take my advice from 20 years in the business.

DO NOT, I repeat, DO NOT purchase real estate with anyone (relative, or otherwise) that you are not legally married to.

There are no court or laws to protect you if the relationship goes sour....and you must be smart and consider that possibility...no one buys property together thinking that they will ever break up.

Real estate is not a liquid asset.

If you, your boyfriend and your mother, go on a mortgage, and you NEED his income to pay for it because you cannot afford to pay for it on your own...if he packs up and leaves and stops paying, not only is YOUR credit ruined, but your mother's is too.

Wait until you are finished with school and are married to start buying a house. That way if he tries to leave without paying, a court will ORDER him to continue payments.

Courts don't have laws for "almost marrieds".

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