Truth: Unfortunately, the lowest credit score out of all signers is the only one considered.
Example: Tony has a credit score of 604. Tony's mother has a credit score of 780. Simplified, Tony's score is the figure used for loan approval.
BUT DAN! What if Tony's mom is the only one on the mortgage and she wants to only use her 780 credit score?
She can certainly do this for her son, HOWEVER, this is now considered an investment property if she doesn't intend to make this her primary residence. Typically, 20% of the loan would be due as a down payment in this situation. There's some exception to this 20% with different loan programs some lenders offer a lesser amount.
*Please consult a lender for a detail of this process and its solutions*
