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mojojojo_1
847 Posts |
 Posted - 06/12/2008 : 12:21:31 PM
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Thanks
Mom and son want to buy a house for son. son is working on moms ranch learning how to raise and train horses, but son has no income 650 mid with a couple of collections
Mom is stellar credit, 22% dti and makes 45K gross a month because of casino agreement. If she were to pass son gets 25% of that til 2020
Purchase, 5% down in santa barbra CA mom owns million plus ranch, will not live in the property, son will live in the property. purchase price 325K sfr
This possible? (mom does not want to put more down so son learns responsibilty blah blah) |
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mojojojo_1
847 Posts |
Posted - 06/12/2008 : 12:39:57 PM
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| fha non occupaint co borrower? |
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lukeallison
1409 Posts |
Posted - 06/12/2008 : 12:46:51 PM
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| Yes, do the Non-Occ co borrower. Best way to run the file. |
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mojojojo_1
847 Posts |
Posted - 06/12/2008 : 12:48:25 PM
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| would it be 50/50 coin toss or is this an fha approvable file. my underwritter said he has to be in college and away from home for it to make sense, but that was just an example i thought. |
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