Tag: NOO

Non-Owner Occupied Financing – Non-Related Co-Borrowers

Question: My client would like his pastor to co-sign for a non-owner-occupied property because he does not qualify on his own.  Does the co-borrower need to be related? MC-Non-Occupant Co-Borrower Chart – All Agency Comparison Answer: There are no restrictions for relationship requirements for non-occupant co-borrowers, other than being an interested party to the transaction. […]

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Non-Occupant Co-Borrower – HomeReady® or HomePossible®

Question: Will HomeReady® or HomePossible® allow a non-occupant co-borrower? MC – Non-Occupant Co-Borrower Chart – All Agencies & Non-Occupant Co-Borrower Lunch & Learn Answer: Both products allow for non-occupant co-borrowers. Please review these two fact sheets that we have included in our supporting resources below. There are separate ones for each program. Mortgage Currentcy also […]

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