FHA and Non Occupying Borrower In NC is a mortgage loan offered for those who can’t qualify for a mortgage loan on their own. The program is great for couples where one spouse has good credit but lacks the credit to qualify for a mortgage on their own. It’s also a great program for single parents who need some additional help qualifying when they have not received alimony or child support for the last 12 months – meaning we can’t count that income.
The traditional use of the FHA and Non Occupying Borrower program in NC is for parents who want to help a College Student get into housing off campus. It only requires a 3.5% down payment, and can be a great investment for the student and the parents.
Additionally, we see the program used for Aging parents who might not have the retirement income set aside to qualify for a home.
If you or someone you know is considering purchasing a home in Raleigh or Cary – or if you have more questions about FHA and Non-Occupying Co-Signors, please call Steve and Eleanor Thorne Government Loan Experts in Raleigh, NC 919-649-5058. We offer today’s lowest mortgage rates!