Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for RhondaMorin

FHA Non-Occupying Co-Borrower Loan for West Virginia

I am looking to buy a home in Romney, WV. I have been self employed for over 10 years but the last few years has been pretty bad. Things are rebounding but no bank will take my business income into account to give me a loan so I am looking to have my father in law be a co-borrower but he will be non-occupying.  I need a creative mortgage lender in this area that can help me somewhat quickly.  I can provide tax returns for business and personal for the last 10 years if needed along with bank statements for the last 7.

My father in law is a Veteran but I don't think I can squeeze that into the mix too. I am a first time home buyer, he is not.

If you are proactive and can help please email and let me know. rhonda dot morin at gmail dot com (I have a really bad cold and lost my voice, email is best for the next few days.)
  • October 29 2012 - Romney
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (1)

Profile picture for shapiroamg
Rhonda:
I am not licensed in WV. FHA allows a non owner occupant co-bor. When you have one, his/her income/assets/debts can be added to yours for qualifying purposes. The lender will consider and average income from your most recent two years of tax returns.
  • October 30 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.