Cosigning a house loan. HELP NEEDED!!?

NO JUDGMENT! My finance is in the military. He is 17 years old and we are tryin to get our own place to start our family because I'm currently pregnant. I'm 18 and legally allowed to sign for a loan. Is he allowed to cosign for it?? Answers and advice would me hugely appreciated as quickly as possible. Thanks

8 Answers

  • Ryan M
    Lv 7
    8 years ago
    Favorite Answer

    Buying a home while he as just started his military service is a HORRIBLE financial idea. You WILL regret that decision. Use on base housing until he is out!! Since he is a minor, he cannot co-sign. He doesn't even have credit or 2 year solid job history, so he will actually hurt your chances more than help.

  • In the military at 17 he's legally an adult since his parents had to surrender their parental rights for him to join.

    Even if he's still considered a minor, a minor can NOT back out on a contract for essential goods and services such as food or shelter. This is a common misconception with relation to minors and contract law.

    All of this said, the odds of qualifying for a loan are long due to your ages, limited incomes, and credit history. Not being married compounds the matter.

    I would strongly urge the two of you to put the matter of buying a home on the back burner for now. He will need 2 years of service to qualify for an in-service VA loan and those 2 years will give you time to get both your relationship and finances on an even keel.

    Just as important is getting married. Since he's not married to you, if he gets orders, you cannot accompany him at government expense. That will cool a budding relationship very quickly. If you are married, you can accompany him on most assignments even to foreign countries. (Obviously you cannot accompany him to a combat zone, but most GIs are not stationed in combat zones even with 2 on-going wars.) He will also receive significant extra money from housing and subsistence allowances if he is married. That extra money can make home ownership a reality; without it it's little more than a dream.

    Source(s): Retired First Sergeant
  • 8 years ago

    HOW can your finance be in the military when he is a minor at 17???????? The military does not accept anyone under the age of 18!! No minor can sign anything and have it legal.

  • 8 years ago


    It's unlikely that any bank is going to allow him to sign any legal document. As a minor, if he backs out of the loan, the courts will not uphold the document. He can just hand the house back and walk away scott free.

    Edit: Whether or not a house loan is considered an "essential good" is still up in the air in many states.

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  • 8 years ago

    No, he is not. You also won't ever get a home loan at 18. You have no credit history, and not enough work history.

  • 8 years ago

    NO. He must be 18 or legally emancipated from his parents to sign a legal contract of any kind.

  • godged
    Lv 7
    8 years ago

    No. He does not meet the criteria to be concerned emancipated so he could legally sign.

    Source(s): Oregon Realtor
  • 8 years ago

    No he can not.

    Even if he could there is no way you two would qualify for a loan.

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