FHA loan guidelines for non-occupant co-borrowers in California

Real Estate Broker/Owner with Independent Real Estate Broker DRE#00972295

With so many government home loans available to first time home buyers, I really don't see why someone who can buy doesn't.  If you want to know whether you qualify for a home loan in Downey CA call me at (562) 916-3237.  If you want to buy a home in San Diego, Call Robert...go over to Robert's blog and let him know that you appreciate him taking time to write this informative blog.

Original content by Robert Chomentowski

FHA has a great feature where you can have a non-occupany co-borrower help you qualify if you can't qualify on your own.  Below are some bullet points for the FHA loan requirements for non-occupant co-borrowers:

  • The non-occupany co-borrower on the FHA loan must be a realtive
  • The FHA lender will take the lowest middle FHA loan credit score of ALL borrowers 
  • All the income of all borrowers is combined
  • All the debt obligations of all borrowers is combined
  • FHA loan requirements do not allow non-occupant co-borrowers on 3-4 unit properties

The best co-borrower to pick as your non-occupant co-borrower would be someone with good income, good credit and low debt.  Picking a non-occupant co-borrower with a lot of debt would defeat the purpose because they would not add any income to help you qualify.  

Read more at: http://www.socalfhahomeloans.com/

If you have any questions about getting approved for a FHA loan in California don't hesitate to call at 858-922-7899 or email at homeloan8@gmail.com.  

Rob Chomentowski

Sr. Loan Officer Affinity Financial



Posted by

Aida Pinto (562) 884-6196
Los Angeles County
Real Estate Broker

The Real Estate Maven : https://www.facebook.com/aRealEstateMaven?ref=hl


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Comments (2)

Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Aida, good choice for a re-blog, great information

Oct 20, 2011 06:54 AM
Aida Pinto
Independent Real Estate Broker - Los Angeles, CA
Real Estate Broker (562) 884-6196

Hi Janice....yea, I thoughts so too....that's great info....and in Downey ca most homes are selling with the FHA program....it's a great program to get your foot in the door!

Oct 20, 2011 06:58 AM

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