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borrower: Non-occupant co-borrower's guidelines for conventional home loans (Fannie Mae or Freddie Mac). - 02/14/11 07:16 PM
There have been many questions regarding borrowers obtaining loans with non-occupant co-borrowers. Here some basic simple guidelines for the non-occupant co-borrower on "Conventional" (Fannie Mae or Freddie Mac) loans. These do not apply to FHA loans, as they have their own rules.
•·         Minimum 5% down payment must be from the borrower's own funds;
•·         Applications with occupant and non-occupant co-borrowers when the LTV is greater than 80%, the minimum required contribution must come from the occupant borrower;
•·         Non-occupant Co-borrowers, the maximum LTV/CLTV is 90%.  Interest Only loans are not eligible.  The non-occupant co-borrower may be a relative or a person with … (7 comments)

 
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Jason Schweiger

Auburn, WA

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Network Funding LP

Address: Auburn, WA, 98001

Office Phone: (253) 315-5580

Cell Phone: (253) 315-5580

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Puget Sound Mortgage Broker working hard for my clients in the entire Puget Sound region including Issaquah, Bellevue, Seattle, Redmond, Kent, Auburn, Maple Valley, Covington, Renton and more.


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