FHA mortgages are for owner ...

Sat, 13 Jun 2009 23:04:00 GMT

FHA mortgages are for owner occupied primary residences only. As you boyfriend is currently a homeowner, he will not be able to qualify for an FHA mortgage unless he moves out of the condo and into the new home with you. He will also have to provide evidence that he has in fact rented out his condo begininning with the time the settlement occurs on yoru new home. Evidence needed to satisfy underwriting requirements include a signed rental agreement, evidence of security deposit from the renter as well as evidence that the first or first and last month's rent has been paid in advance.

As you don't qualify on your own, and if your boyfriend is unwilling to rent out his condo now, then your own option is to have a blood relative co-sign your mortgage application as a non-occupant co-borrower. He or she will have to qualify with his or her credit scores as well as his or her current income and current debt load added to yours.

Zillow Advice: Buying Process - Can 2 people qualify for an FHA loan if 1 person is currently a homeowner?

FHA mortgages are for owner ...