There might be a problem with you stating your mother made you sign when you were 18. In most cases to make a FHA mortgage loan work, the mortgage loan officer would have the parents get a son or daughter to sign on the mortgage to insure that the mortgage would be approved because they had no baggage or negative credit.
If you are on the mortgage note and signed the mortgage loan docs then you are responsible for the monthly payment on the house thus this debt would appear on your credit report. Being on the mortgage note and that debt being on your credit report would affect your debt to income ratio.
Using a VA mortgage requires no down payment on the part of the veteran, so keep your 5% in your pocket. With the amount of house you would like to purchase, your closing cost would be around $1,500.00 to $2,000.00. VA mortgages do not use your credit score as a means of denying your mortgage loan application.
There are no hidden cost in VA backed mortgages because you are not required to pay any.Tell your mortgage loan officer you would want a VA no no, Your origination fee and cost of the mortgage loan would be rolled into your mortgage.
Obtaining a conventional mortgage you would be required to pay origination cost and fees or have your interest rate increased if you decide you did not want to pay for the points and fees of your mortgage loan.
VA mortgage loans are no a headache, don't allow the seemingly endless paper work bother you or stress you out. You VA mortgage lender would walk you through the process with little or no rpeoblems.
Speak with a local mortgage company that is authorized to do VA mortgages. Speak with a VA lender in Las Vegas, Get pre-approved by a loan officer. Attempting to complete the mortgage loan application on the internet would be daunting.
As one combat veteran to another another veteran thanks for serving.
I hope this would be of some benefit to you, good luck.