Non Occupant Co Borrower

Posted on: 01st Mar, 2009 07:22 pm

Can a Non Occupant Co Borrower be a Limited Liability Company? Have someone who would like to help with 20% down and would like to be co-owner with their LLC. I would be living in the house.

Total Reply : 6

Hi mm!

Welcome to forums!

Firstly, you will have to inform your lender about the limited liability company. At times, lenders are not ready to give mortgage for LLC. If the lenders agrees to this, then you may add your non-occupant co-borrower to the LLC.

Sussane

smith.sussane

Posted on: 01st Mar, 2009 08:03 pm

"Can a Non Occupant Co Borrower be a Limited Liability Company? "

If you are director for the LLC then your mortgage lender may have some objection about this.Your lender will be able to tell you specific details about it as he is only going to pass the approval for the loan. :wink:

manoj_gopale

Posted on: 02nd Mar, 2009 06:55 am

the likelihood is quite slim that an LLC is going to be eligible as a non-occupant coborrower.

gmakerley

Posted on: 03rd Mar, 2009 07:46 am

Hi Friends,

This is John Rise & i am newbie to this marvellous forum. I inaugurate this forum very fascinating and more reassuring thatswhy i am exact much hysterical to couple here. I hope all friends are help me on this cruise and i pleasure profit from to staying here.

Thanks a lot
John Rise

Anonymous

Posted on: 17th Jul, 2011 11:19 pm

Welcome to this forum. You can actually share your problems with loans here and find the best advise that would help you out.