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ByGustan Cho
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Does Co-Signing Affect in Buying Home? Understanding How Co-Signing a Loan Affects Your Future Home Purchase Have you ever considered co-signing a loan for a loved one? It might seem like a helpful way to support a family member or friend, but you might wonder, does co-signing affect in buying a home in the future?…
ByGustan Cho
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Understanding Exempt Debts of Co-Signed Loans in 2024: A Guide for Homebuyers Co-signing a loan can feel like helping a friend or family member take a big step toward their dreams, whether it’s buying a car or a home. But what happens when you’re the co-signer? And it’s time to purchase your own home? One…
ByAnngelli Abenes
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When it comes to getting home loans, buyers sometimes need extra support to qualify for their dream home. This is exactly when bringing in a non-occupying co-borrower can make a huge difference. If you’re stepping into the housing market for the first time, or even if you’re well-versed in real estate dealings, it’s crucial to…
ByAnngelli Abenes
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This guide covers VA guidelines on co-borrowers for VA loans. We will discuss the VA guidelines on co-borrowers. Income is one of the most important factors when qualifying for VA loans. VA loans have specific mortgage lending guidelines for co-borrowers and are different than any other mortgage loan programs regarding co-borrowers. Dale Elenteny, a senior…
ByGustan Cho
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This Article Is About Non-Occupied Co-Borrower Can Be Added To Borrower With High DTI A large percentage of mortgage borrowers consult with Gustan Cho Associates Mortgage Group due to having higher debt-to-income ratios. Most mortgage lenders have lender overlays on debt to income ratios. Lender Overlays are mortgage guid+++elines that are above and beyond federal…
ByGustan Cho
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We will discuss and cover owner-occupant multi-family mortgage guidelines on two to four units. Any property between one to four units is considered residential properties homes. First-time homebuyers with goals of investing in real estate can start by buying a two-to-four-unit multi-family home as their first home. Homebuyers can purchase an owner-occupant two-to-four unit multi-family…
ByGustan Cho
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This blog will cover Fannie Mae and Freddie Mac guidelines on qualifying for a conventional loan with non-occupant co-borrower. Non-Occupant Co-Borrowers can be added to Conventional and FHA loans. The United States Department of Veteran Affairs does not allow non-occupant co-borrowers on VA home loans. Only married spouses of veteran borrowers can be added as…
ByAlex Carlucci
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This guide covers how does FHA define family member. In this blog post, we’ll explore FHA’s criteria for defining a family member in the context of non-occupant co-borrowers. HUD, which oversees FHA, enforces guidelines that outline the definition of a family member. This definition becomes significant when considering the inclusion of non-occupant co-borrowers. According to…
ByGustan Cho
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This Article Is About Mortgage Guidelines On Co-Borrowers On Home Purchase Mortgage Guidelines On Co-Borrowers has recently been updated for both FHA Loans and Conventional Loans. FHA allows non-occupant co-borrowers to be added to the mortgage loan of a borrower if the main borrower cannot qualify due to income. There is no limit on the…
ByGustan Cho
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This Article On Mortgage Guidelines On Adding Co-Borrower To Qualify For Home Loan Adding co-borrower to qualify for home loan is done because the main borrower does not qualify with income. Adding co-borrower to qualify for home loan is normally done because of the borrower having higher debt to income ratios A spouse can be…
ByGustan Cho
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This BLOG On Qualifying Mortgage Borrowers And Co-Borrowers For Loan Approval Was UPDATED On January 4th, 2019 All mortgage lenders qualify mortgage borrowers and co-borrowers in similar ways: All Mortgage Borrowers and Co-Borrowers need to have a valid social security number Two years of employment history: Gaps in employment is allowed Two years of residential history…
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