Yes, but you’re not living there, and have another home you own that you live in, and had another property at the time. You also likely qualify for far more of the home than your 1/4 portion, and/or you’re likely in this investment (not a residence) with your wife (if so, that means 1/2 is on your end) and are the tenants your TFWs?
You also kept telling us you had no problem qualifying for a mortgage as a business person and told us it’s easy peasy, but eventually said it was you and your wife qualifying which changes everything. So the lesson learned is don’t take mortgage advice from Matt!!!
I just don’t want us the be the source of getting people‘s hopes up. 50 investors can buy a property together, but they won’t be first time buyers looking for a home to live in. If you’re looking for a home to live in, the smart advice is to wait until you can purchase on your own or with the help of close family.
Ahhh yes what do I know, I’ve only done this five times. Don’t take my advice, but if you need some actual advice there’s lots out there, but to just say the banks won’t do this or it’ll get messy real quick is also bad advice.
I don’t think co signing with a spouse is really all that unusual, is it? 3/4 of the people on that title are self employed, none of them what you would consider high income earners. Just regular working stiffs. We own a small business and my wife does bookkeeping. We aren’t special or unusual.
The bank didn’t care who the tenants are, one is a tfw and one isn’t. Made no difference.
You have this way of speaking in absolutes sometimes and then when refuted the “buts” come out. Of course every situation is different. YMMV.
Matt.