Can parents cosign 2 times?

Just as the other lender claimed if your parents can cover the debt to income ratio then they would be considered a non-occupant co-borrower since they already live in the home they co-signed on-s o that would be considered their primary residence. However what is stopping you from qualifing on your own as you have a 650 credit score which will qualify you for FHA financing and a Georgia Dream down payment assistance of $5,000 if you are buying in Georgia. Most states have an applicable down payment assistance program if you are not buying in Georgia! If you need any more help please feel free to contact me!

If your parents can cover all of the loans, then you are ok. If the income for you and your parents will not cover the new mortgage, then you are stuck. The lender really just wants to make sure that you can pay the note. For qualifying, the lender will only use 45% of your income.

Your parents are quite generous. I hope that you and your sister reward them with timely payments to protect their credit.The short answer agrees with the others - Yes. As to if they would be approved depends on their debt load. FHA allows INCOME from non-occupant coborrowers (your parents) to be considered while conventional loans allow only ASSETS, not income, to be used, so the complete answer depends a bit on what product you may wish to use. I hope that this helps, else shoot me an e-mail or call!