Here's the question...can you get an FHA mortgage for a multi-family home with a cosigener. my fiance and i will be the buyers and living in the home, my mother is the cosigner but in no way connected to the property other than helping us in getting funding (ie the mortgage)Initially, our loan officer said it was allowed but now he is saying it is not. he is saying we will have to basically "lie" on our application and state the following:-that my mother will be occupying one of the units in the home we are buying-that that will be her primary residence-that she is going to sell her current homeall this is of course just going to be on paper. any comments on this situation...the whole situation just isn't sitting well with us thank you... by terribleturtle from Kent, Maryland. Oct 5th 2009
I would highly recommend finding a new loan officer. Any professional who advises you to commit fraud is obviously not acting in your best interest and is part of the problem in the lending community. There are plenty of loan officers willing to assist you with an above-board transaction that will not come back to haunt you later - Me for instance! Give me a call if you want some sound advice and straight talk about what you can qualify for.Casey - 262-264-5462Cadence Lending Group
The situation you are describing is that your mother will be a Non Occupying Co-Borrwer. This is no longer allowed.
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