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LOANLORD56
48 Posts |
 Posted - 07/23/2008 : 12:12:14 PM
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I HAVE A FAMILY LOOKING TO PURCHASE A 4 UNIT IN CA. THEY WANT TO GO FHA AND USE THE NON OCCUPANT CO SIGNER NICHE. CAN ANYONE TELL ME THE MAX NON OCCUPANT CO SIGNERS ARE ALLOWED ON SOMETHING LIKE THIS???!!! ALSO, DO THEY HAVE TO BE FAMLILY MEMERS TO CO SIGN? I ALSO WOULD LIKE TO KNOW MY MAX DTI'S ON THIS....IF ANYNE CAN ANSWER THESE QUESTIONS PLEASE LET ME KNOW.
THANKS
LOANLORD56 |
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cpruitt
1686 Posts |
Posted - 07/23/2008 : 12:34:06 PM
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| FHA doesn't impose DTI's that are different from standard ratios, and there isn't any limit set by FHA on the number of coborrowers except that maximum financing is only available "for borrowers related by blood, marriage or law (spouses, parent-child, siblings, stepchildren, aunts-uncles/nieces-nephews, etc.), or for unrelated individuals that can document evidence of a family type, longstanding, and substantial relationship not arising out of the loan transaction." If the borrowers are not related in these ways, max LTV is 75%. |
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