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Is it possible to purchase a home w/a non-occupant co-buyer if you are NOT a BLOOD RELATIVE? Trying to purchase a home. One party has necessary credit but DTI a bit of a problem. Cannot qualify on her own. The other party has more than sufficient income but credit has a blemish from 2004. Together they will qualify; however, he resides out of state and is not a blood relative. Is there any program available?

savior70 · Posted: Mon Nov 02, 2009 4:22 am Post subject:

Hi,

Lenders will not allow non-occupant co-borrowers, who are not blood relative, to sign on the mortgage. Only FHA allows non-occupant co-sigers to be on the loan, provided he/she is related to the main borrower. Conventional lenders, as far as I'm aware of, do not allow any non-relative to co-sign on the loan, unless he/she occupies the property as principal residence.

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Blood Relative Requirement for Non Occupant CoBuyer