Would being on the mortgage impede my ability to purchase a condo later?
My question is, if I am put on the mortgage, will that impede my ability to quality for a loan in 4 years when I buy my own condo? I will have 40k down on the condo, but still owe half of it. I am worried they will not allow me to get the loan for that mortgage if I am already on the first mortgage with my dad at the townhome.
My dad said this isnt true, that I could use the townhome as collateral to get the mortgage loan for the condo. Is this true?