Posted on: 16th Feb, 2010 06:07 am
My offer on a $700K purchase of a house in San Diego has been accepted and I need a quick approval form a good reputable source. I am self employed with fico of 730 and short in being qualified for a conventional mortgage of $417K I have a family member who can help me to get me approved. I have been told this will be treated as a non occupying co-borrower. Appreciate your help to get a loan approval fast at a good rate- Thanks in advance
What's the question? You're allowed an non occupying co-borrower.
but on a conventional loan, non-occupant coborrowers won't help you with qualifying ratios. they're only helpful on fha loans, where the ratios can be blended to allow you to qualify.
