How can I be approved for a mortgage without a co-borrower?

Answer by  tessamalk (466)

To be approved, you will need to have a good, steady job and a stellar credit rating. How high depends on the company looking at your application, but you should probably have a FICO of at least 700 before applying by yourself.

Answer by  dorropen (34)

You must make enough income on your own to qualify for the loan. You also must be on your job for a good amount of time. You must be able to complete all of the qualifications successfully on your own.

Answer by  Ken56 (1160)

Yes, you most certainly can be approved for a mortage without a co-borrower or co-signer. You will need to have a good credit rating and maybe have to offer collateral.

Answer by  britt01 (292)

Your credit must be in good standing. Also you must have a stable job that can support monthly mortgage payments. You must have enough down payment to finalize the loan. Credit card and car loan debt can effect the approval of the loan. Taxes and alimony must be paid up as well.

Answer by  tamarawilhite (17883)

Put more money down. The higher the down payment, the lower the interest rate AND the less likely a co-borrower is needed. A second option is to look for a cheaper home, which you are more likely to qualify form.

Answer by  meandcoborrower (5)

Approval for a loan would require meeting the lender's criteria. It would involve having a job or other income that would be sufficient to make loan payments, having a good employment history is helpful.

Answer by  Elizabeth73 (292)

There is no requirement for two people to take out a mortgage together. Simply apply through the bank based on your income and you can get pre-approved.

Answer by  technogeek (6640)

If your credit is deemed worthy, and your income shows that you can make the mortgage payments, then there should be no reason why you wouldn't be approved.