Jump to content

Read These Items!

  • If you're getting an Authentication mismatch error: Clear your cache. Log out of CB. Delete your cookie. Close your browser. Open your browser and log back in.


FHA Non Occupying Co-Borrower

Posted by DallasLoanGuy , 31 March 2009 · 147 views

FHA Non Occupying Co-Borrower rules in a nutshell.

Typically called a 'Kiddie-Condo' loan. FHA allows family members to help their kids buy their first home. Whether they are in school with no income or out in the real world and just need a little extra income to qualify.

FHA allows for a family member to be a non-occupying co-borrower in order to assist in qualifying. This is available when your borrower would qualify for the loan when considering their credit but they wouldn't qualify because of debt ratios, employment, income and assets.

Adding a NOCB does not resolve credit issues!! The occupying co-borrower must be credit worthy or have no credit at all. Bad credit will kill the deal. No credit - no problem.

The occupying co-borrower does not have to be employed and does not have to invest in the transaction.

The DallasLoanGuy Originates, Processes, Underwrites, Closes & Funds FHA Loans in-house. We offer manual underwrites down to 580 FICO.

Tom Burris
Dallas, TX

"A Home Loan for Every Texan"

Texas Home Loans

FHA Streamline Refinance

I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!

April 2014

1314151617 18 19

Recent Comments

© Copyright 2003 - 2013 Creditboards.com. All rights reserved. No portion of this site may be reproduced without explicit permission from the owners. The content of creditboards.com is subject solely to the personal whim of its admins. We reserve the right, at our sole discretion, to remove any and all posts or comments, at any time, for any reason which takes our entirely capricious fancy, or for no particular reason whatsoever, without restriction. Comments or questions regarding the site may be addressed to admin@creditboards.com.