I'm closing on a house next week. The interest rate we locked in is 4.5% Our mortgage to income ratio is 50%. My mother in law would be willing to cosign if it would bring down the rate. Is there any way to bring down the interest rate or is it too late?
Any help would be appreciated. TIA
Ask your mortgage broker!
Remember how long it took to gather all your paperwork and get approved? A co-signer also needs paperwork and approval.
How much will the rate go down with a cosigner? Will it save you enough money that it's worth delaying the closing?