Buying A House Without Coborrower

by First Time Home Buyer from USA

Regarding Buying A House Without Coborrower: Dear Kate, I am buying a house and am a first time home buyer at the age of 27. I have been at my full time job now for 4 years. Prior to this job though I declared bankruptcy due to some poor choices in other lines of employment.


I have been trying to get my credit back up with a car loan for a year as well as opening a secured credit card.

I plan on saving $4000 for a down payment this year but I have no coborrower. Are there ways to get a home without anyone coborrowing with me? I cannot think of anyone who could be able to. What should I do? Signed, First Time Home Buyer

Kate Answers: Buying A House Without Coborrower

Dear First Time Home Buyer, Has a lender told you that you need a coborrower or are you assuming you do?

There are a lot of mortgage programs and I may not be aware of one where coborrowing compensates for a fairly recent bankruptcy of the primary borrower.

But whether or not you have bad credit in the past, whether or not you think you need a coborrower, my best advice for anyone buying a house is mortgage pre approval. A strong mortgage pre approval can shake out issues and give you a game plan before you make an offer on a house. It signals to a top rated real estate agent that you are serious about becoming a first time home buyer.

You may find a coborrower is not necessary or perhaps you will find an alternative. Either way, find a reliable home loan lender for mortgage pre approval.

And congratulations on finding a good job, reestablishing your credit, saving a downpayment and pursuing home buying.

I hope you'll come back to my website again in the future. Of course, all of my information is free.

So remember to bookmark to your favorites and visit often for up to date tips for buying a house, mortgage news and refinancing advice. You can also invite friends to comment on this page or create a page of their own like you did.

Best Wishes,



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You can also ask Kate about your mortgage at Ask Kate About Buying a House.

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