FHA, Fannie Mae & Freddie Mac Non-Occupying Co-Borrower Rules

non occupying co borrower updated

If you have been looking to buy your first home, but your finances make this seem impossible, there could still be an option. If you have a family member who is willing to co-sign on a mortgage, you could buy a home sooner than you might have expected.

A non-occupying co-borrower arrangement allows the borrower and their parent or another family member to be approved for a home loan together. This can make student loan debt, a high debt-to-income ratio, or a bad credit history less of a problem. If the relative has a low debt-to-income ratio and a solid financial history, buying a home suddenly becomes possible.

We take a look at the things you need to know about being eligible for a non-occupying co-borrower mortgage.

non occupying co borrower updated 1



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