Can I purchase a home if my name is on my parents' mortgage?

More info needed, but in general, if your name is on your parents mortgage, then typically, if you show the parents have made the payment on their own, from their own account (not a joint account with you) for the past 12 or more months, then typically, we can remove the payment form your debt to income ratio. Also, if you earn enough qualifying income to support both your parents payment and your new housing payment along with all your other obligations, then you would be fine regardless of who makes the payments.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

You can buy a home with your name on your parents mortgage. The servicer for the current mortgage may not want to remove your name from the mortgage liability (not typical) with a refinance in your parents name, but you can confirm that your parents are making the payments by showing the most recent 12 on time payments with cancelled checks or their bank statements. The UW for your new loan may disregard the mortgage payment liability from your debt to income ratio. Thank you, Carlos Eliseo at Fidelity Funding Mortgage Corp. 561-252-1552.