I have a question,I want to know how much it affects to co-sign for a house. My brother wants to buy a house but in order for him to get it he needs a co-signer. I am willing to co-sign for him but in less than 5 months I will be getting married and getting an apartment with my fiancee. Will co-signing affect me with getting my apartment in a few months?
I might also want to buy a car in a year or so. Please help me!!!thanks in advance!
When you co-sign you become liable to the lender just like your brother. Generally, unless your credit report will indicate some late payments, I do not think that your rental application will be jeopardized by you co-signing a loan. However, should you ever want to purchase a property, a lender will definitely take your other loan obligations into consideration. Good Luck.