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co-signing a loan with bad credit. american retiree buying property in BGC.


Hello and thank you for this forum. My question is about the new condo I will be purchasing with my fiancee (we are not officially married and will not be throughout this home buying process). We found a nice place in BGC and have already made all the proper arrangements to own it. My situation is a little bit different than most and I don’t think the broker understood me when I asked about this. Basically, I am a disabled veteran receiving a steady income every month from the United States military. My fiancee has good credit in America and mine is actually quite bad. I do not have a credit history and some medical bills that I wound up with damaged my credit score further, unfortunately. We can purchase the home with around 25% cash down and the rest will need to be financed. Who is best signing the loan, her or me? Should I co-sign despite having bad credit? Do Philippine banks actually look at my American credit history? I can show proof of income and everything else. The other issue is that I need to be fairly certain that the process will go smooth once I arrive there. Hopefully it does not take too long and we don’t encounter issues with financing our new Manila condo.

Sam C. Paulson

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