first time home buyer – owner loan

Krme asked:


I am a first time home buyer with poor credit. I would not get approved on my own. A friend has offered to either buy the home and I do a rent to buy contract with them or we could be co- owners. If we are co-owners would they base the approval ammount and intrest rate on his credit? If he has bought a home in the past but I have not- would I get the first time home buyer tax credit if we are co-owners?

Alexander