Want to purchase a home or refinance but you have too much debt and not enough income? A family member or friend can co-sign a mortgage for their son-daughter or friend to help them qualify for a home purchase. We offer solutions that work for you.
Advantages for Non-Occupant
Co-Borrowers:
- Occupying borrower is not required to have a minimum contribution to the monthly income
- Occupying and non-occupying borrowers’ incomes are combined
- Occupying and non-occupying borrowers’ debts are combined
- Available on a variety of products: 30-Year/15-Year Fixed, 5/1 and 7/1 ARMS
Non-Occupant Co-Borrowers are Borrowers Who:
- Do not occupy the subject property
- Sign the mortgage deed of trust and note
- Have joint liability for the mortgage
- Are family or have an established relationship with occupying borrower(s)
- Have a principal residence in the United States unless they are military, active-duty serving overseas or a U.S. Citizen living abroad