Posted on: 02nd Dec, 2009 06:47 am
I am trying to buy a condo that will not go FHA. Can I have a co owner that is not a blood relative and will not be living in the condo?
No, there is not a loan program available that will let you do that. You can buy it as an "investment", but then you have the problem of putting way more money down and not getting an interest rate that an owner occupant would get.
cheryl, this is confusing. you will occupy this property, i presume? what is the purpose of the "co-owner"? do you need a co-signer? a non-occupant cosigner is only available on fha loans, which you already told us won't be viable.
i'd have to agree with sonja here, that you're barking up the wrong tree.
i'd have to agree with sonja here, that you're barking up the wrong tree.
