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Answers (5)
- Bob Willett, "SacRELender"
- Contributions:194
If your brother-in-law is a US citizen or resident, that part shouldn't be a problem. Loans involving people living out of the country can have challenges, but it can be done. I would add a week or so to the process because the closing can be problematic with documents being signed in another country and the underwriter may have unexpected questions caused by international documents. (At least they use English in London.)
- Norm D Plume, "America Needs Nixon!"
- Contributions:1670
I do not see that as an issue at all
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FHA regulation: 4155.1 4.A.1.
Non-occupying coborrowers or cosigners must
Non-occupying coborrowers or cosigners must
have a principal residence in the U.S., unless
exempted
due to military service with overseas
assignments, or
as U.S. citizens living abroad
- Adam Cohn, "palmbeachmortgage"
- Contributions:130
I do not see that as an issue at all.
- Howard Vernick, "HowardVernick"
- Contributions:47
First, you may be able to qualify on your own. Of course this will mostly depend on your monthly debts. Secondly, FHA allows financing after 2 years from the discharge date of a chapter 7 bankruptcy, so your husband could be eligible soon, and with extenuating circumstance and credit re-established could possibly be eligible before the two years is up.
FHA does not allow for a non-occupant co-borrower who lives outside the United States, so your brother in law would have to have residency in the US to be eligible as a non-occupant co-borrower.
I hope this helps. Good Luck
FHA does not allow for a non-occupant co-borrower who lives outside the United States, so your brother in law would have to have residency in the US to be eligible as a non-occupant co-borrower.
I hope this helps. Good Luck
- shapiroamg
- Contributions:3058
Its not an issue to have a non-occupant co-borrower. I think the other part of your question needs exploring. I would think that with your BiL filing taxes in the US, you can probably have him be a NOO-CB. There is probably some more investigating though with his situation.
Can I get an FHA Loan with my Brother in Law as a non occupant co buyer?
I have good credit and make 53k a year.
My husband has a higher income but filed Chapter 7 before we got married (almost 2 years).
My brother in law is willing to be a non-occ co borrower (high income and excellent credit), and pays U.S. taxes, BUT lives in London.
I want to be able to get a $230,000 pre-approval.
Will this be possible on my own? Can my bro in law be my co-borrower?
Thanks!
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