texas real estate laws???

[fideinone]

we are trying to buy a house and we are having to use a cosigner....now the mortgage lady is trying to tell us that because of texas real estate laws and something in our cosigner's history wont allow her to let us use him.... she wont go into details and she wont give us any specifications about those laws or about anything pertaining as to why they wont allow us to use that cosigner. my question is....are there any texas laws out there that could fit that type of description? i am sorry i dont have any more specifics...but that is the most we could get out of the mortgage lady. please reply soon to my email address (fideinone@aol.com) because we need to find out this type of information as quickly as possible to see if it is still possible to go through another lender.

 

[HomeGuru]

Without the specific details I'd be looking through the sagebrush for a particular grain of desert sand.

 

[fideinone]

texas real estate laws

could you tell me if there are any particular rules that would involve that....because i couldnt find anything in myresearch over the internet....and since the lady wont give us any details then i have nothing to go on except her word that these rules do exist somewhere.

 

[HomeGuru]

You are dealing with an idiot. Change mortgage lenders.

 

[fideinone]

real estate laws

thank you for the advice home guru...i also wanted to ask a question that has been bothering me....we called another lender....and they informed us that you cannot use a cosigner on an fha mortgage which is what the original mortgage lender was trying to do....my question is...is that true? is it really not possible to have a cosigner on an fha mortgage? and if so...why is that? if you happen to know the answer to that question I would really appreciate a reply to satisfy my curiosity. Thank you.

 

[HomeGuru]

I have used co-signors on FHA loans.
Do yourself a flavor and contact FHA directly http://www.hud.gov
There is an abundant flavors of information on FHA on the HUD website. After your research, call the FHA office and talk to someone in the loan program department.
Don't settle for the plain vanilla flavor unless you are willing to order the works...hot fudge, nuts, sprinkles.....

 

[David J. Miller]

You can use co-signors for FHA financing. Are you buying a single family or duplex? If you are buying a duplex, and you need a co-signor, you are not elgible for maximum financing. You'd have to make a 25% down payment.

While I am not from Texas and do not do many mortgages there, I can think of nothing statutory that would keep you from using a co-signor.

Are you using a broker or one of the larger lenders?