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Posts: 3,302
Registered: ‎06-09-2010
Re: FHA loan question

StartingOver10 wrote:

1) Yes, you can have a non-occupant co-borrower for an FHA loan.


2) However, as pointed out, he has to qualify for the loan too. His tax liens are a problem, unless he has been making payments on them and can show at least 6 months of on time payments.


3) Can't you prove your income via your tax returns? Or has your accountant been too aggressive?


4) Your father can gift you a large lump sum and you can go to a company like TrustCo that handles portfolio loans for these type of situations. TrustCo is a regional bank. The loan is a conventional loan and not sold on the secondary market. The rate is a good rate too, but the residence has to be a primary (like you want it to be).


Good luck.



Im thinking the problem with the income is it is not provable at all. Possibly cash type of business. Possibly no income at all and seeing what is possible to be done.


Number 4 is an excellent choice, or you can just have your father buy the house cash and you pay him back.

Good Luck
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