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fha non occupying coborrowers: My credit is not good - but my co-signers credit is excellent - Yippie, I can buy & use FHA loans - 07/23/10 12:23 AM

 
There will always be some sort of mortgage myth in our industry or a piece of information given by a loan officer that is misleading. What I am about to talk about is regarding FHA loans and a borrower using a co-signer to help them purchase their new home. We call this a non-occupant co-borrower type of loan.
 
 
 

Let's first talk about co-signers for mortgages, because this term is used loosely throughout the real estate industry. When doing a mortgage, a co-signer is much different than when buying a car. When buying a car, you … (29 comments)

fha non occupying coborrowers: I have a FHA Loan. Can I have two FHA Loans? Important things to be aware of !!! - 02/12/10 03:58 PM
 
How many FHA Loans can I have?

 
FHA Mortgages have become increasingly more popular for 2 reasons. You just need 3.5% as a down payment and that many lenders will go down to a 620 credit score. What I am seeing now is the confusion about whether you can have 2 FHA loans because loan officers and lenders are giving the wrong information on the basic guidelines.  And yes, you can have two, and even more, FHA mortgages.
Example :
Just yesterday, I had a client that was told that they need 30% down on their new property … (41 comments)

fha non occupying coborrowers: FHA Non-Occupant Co-Borrower loans - Also known as Kiddie Condo loans - 09/12/09 08:31 AM
 
 
FHA Loans – FHA Mortgages
Non Occupanying Co-Borrower loans - Kiddie Condo loans
 
 

 
FHA loans have many features that still aren't talked about as much as one would think, because they are still fairly new to more than have of the loan originators out there. Now, some might argue half is very extreme, even though this is my opinion, I will still stick to this statement for many reasons.
As a loan officer with more than 17 years of mortgage experience, the non-occupant co-borrower program is very simple to understand.
FHA will allow a … (14 comments)

fha non occupying coborrowers: FHA -- Non-Occupant Co-Borrowers -- Now on refinances also.... - 04/10/08 11:58 AM
 

 
 FHA has always allowed a buyer to get the help of a relative to help them qualify for their purchase of a new home, without that person living in that new property. This would be known as a non-occupant or non-occupying co-borrower.  On the conventional side of things, this is known as a co-signer. But there are more restrictions and guidelines when going conventionally.
Keep in mind, a the co-signor or non-occupant co-borrower is not their to help you qualify based on your credit. The sole purpose is to help you qualify you with your income. Many think … (8 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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Social Media - Infinity Home Mortgage Company, Inc

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

Cell Phone: (609) 440-5133

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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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