Tag: Sales Contract

Non-Borrower Signing the FHA Sales Contract

Question: Is a non-borrower permitted to sign as a buyer on the sales contract? Answer: A Family Member can remain on the contract if they are not a borrower. Otherwise, parties who are not borrowers have to be removed via an addendum to the contract. See the full guidelines below. Sales Contract Standard The Mortgagee […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

FHA – Purchase Contract Requirements – Spouse – Is the spouse permitted to be on the contract and title without being on the loan? [NEW MTP™ “We Are Family! How FHA Defines a ‘Family Member’”

Answer: Per the FHA guideline below the spouse’s name would not have to be removed from the Sales Contract even if they are not a borrower. Typically, the spouse will be added to title at closing without a problem; however, the loan will be closed initially in the name of the borrower only as this […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Scroll to Top