Yes, in certain instances. If you are a relative of someone purchasing a home with a conventional conforming or high balance loan or an FHA loan it is possible to be a non-occupying borrower on the loan.
Sure... In the mortgage business, we call that a non-occupant co-owner. Many programs allow for that. Contact a mortgage broker in your area for specifics on your situation. In MN< WI, and SD, visit me at www.JoeMetzler.com
More info needed, but yes. there are loan products which allow you to be a non occupying co borrower.. Try contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347
Ask our community a question.