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cosigners: Non-Occupant Co-Borrowers is the same as Co-Signers for mortgages - 10/31/10 09:24 AM

 
When it comes to FHA co-signers for FHA loans, it is the same when talking about non-occupant co-borrowers. The term co-signers sometimes gets confusing when talking about mortgages.
When co-signing for a mortgage, that person will still be on the mortgage and it will still count towards their overall credit. The co-signer can only be taken off if the primary borrower refinances the loan, even with a FHA Streamline.
In this post, I will be talking about co-signers for FHA loans, because this is different when using a co-signer for a conventional loan. The main reason is because the … (8 comments)

cosigners: FHA -- Non-Occupant Co-Borrowers, are they allowed? - 07/07/07 05:14 PM

FHA will allow a co-signer that is not living in the house unlike conventional loans in which the borrower still needs to meet certain qualifying ratios even if they have a co-signer. This can be great for first time homebuyers. One thing that so many get confused no matter what type of loan they are applying for is that a co-signer with good credit can't overcome the bad credit of the primary borrower. Meaning that the co-signer with good credit can't get you a better priced loan.
On FHA loans, 100% of the co-signer's income can be used no matter … (24 comments)

 
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Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Cherry Hill, NJ

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Address: Cherry Hill New Jersey 08034 08002 08003, Haddon Heights New Jersey 08035, Haddonfield, NJ, 08033

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I just want to educate people about mortgages and the process. In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.







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