Can two single individuals qualify for an FHA loan in California? For some reason I think you might have to be a married couple. Basically, we both want to live in the house but we just don't want to have to pursue conventional financing that require higher amounts of equity down as we want to utilize the 3.5% down. by garrett4g from Huntington Beach, California. Apr 11th 2011
With Conventional and FHA financing, a non-married co-borrowers is not an issue. You may be confusing this with VA, which DOES require the couple to be married to use a co-borrowers income to qualify. The only person eligible to be a co-signer on a VA loan is a spouse. MN or WI? www.MnBestRates.com
Rates are much lower now than when you posted this. Contact me for FHA pricing. Gregorio Denny - 800-335-6897
Yes, you can obtain FHA financing. You can even have a non occupant co borrower for FHA, and you can have your down payment completely gifted from family or friends. You can contact me directly to give you more information. I am based in La Palma, CA. Chris GummersonBay Valley Mortgagebayvalleymortgage.com714-367-5126
The key here is that you will both be occupying the home together. Therefore, you can absolutely both be on the loan. Remember that it pays to shop around though since not all FHA loans are the same. We have some of the most consitently low rates you will find anywhere today. Feel free to visit www.loantutor.net/FreeRateQuote for an instant quote, or call us anytime to get you questions answered first hand (1-800-299-0270 ext. 101).
Yes, you can get financing thru FHA, AND i am also a direct fannie mae lender, for HomePath financing, and it is 3% down, no appraisal, and fannie mae pays most of the closing costs.. and 2% of the 3% can be gifted funds.. thanks linda , your motg
Yes, you can get FHA financingl, , thats not a problem, but also you might want to conside Homepath , I have been offering this type for the last 3 yrs. It has a 3% down, with 2% can be gifted funds, and there is no appraisal, and fannie mae can pay most of your closing costs. linda , your mortgage partner for life!!! lindaforloans@live.com
Yes any number of people can own a home with an FHA loan as long as they are living in the home and that is their primary residence. I have a $5,000 first time home buyer grant that you might qualify for and this will help you spend less then 3.5% down and then this will give you more room for price increases as you look at homes. I would be happy to help you please visit me at www.fcmhomeloans.com (Gianni Cerretani-The Mortgage Godfather)
As the others have pointed out, this is not an issue with respect to financing. Since California is a community property state you may wish to ask your attorney about making certain each of your rights is protected.
No problem. I just closed a loan just like that. Two non married co-borrowers can qualify for FHA. Actually, they will allow up to 4 borrowers on one transaction. I can work you up a quote. I am licensed in CA. www.ApprovemeFHA.com
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