48 Meriden Rd, Suite 1, Middlefield, CT 06455
844.788.7237
info@northeast-mortgage.com

Non-Occupant Co Borrowers

FHA, Mortgage Basics

Have a primary residence or non-primary home that you would like to finance for a family member? We offer solutions that work for you.

What are the advantages to having a Non-Occupant Co-Borrowers on a Mortgage?

  • Occupying Borrower is not required to have a minimum contribution to the monthly income
  • Occupying and non-occupying Borrowers’ incomes are combined
  • Occupying and non-occupying Borrowers’ debts are combined
  • Available on a variety of products: 30-Year / 15-Year Fixed, 5/1 and 7/1 ARMS

Non-Occupant Co-Borrower are Borrowers Who… 

  • Do not occupy the subject property
  • Sign the mortgage deed of trust and note
  • Have joint liability for the mortgage
  • Are family or have an established relationship with occupying Borrower(s)
  • Have a principal residence in the United States unless they are military, active-duty serving overseas or a U.S. Citizen living abroad

Let us help you find a loan that works for you.

CONTACT US TODAY!

(844) 788-7237
NMLS#117273
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General Disclosure

When discussing programs that allow for 3.5% down, 0% down, or a percentage down – the borrower is not required to only put that exact percentage down. FHA, USDA, VA, CHFA, Jumbo, and Conventional Mortgages allow borrowers to put down more of a percentage if they desire to. The percentages mentioned in the information provided is the minimum down payment that these programs require. Each one of these programs have specific credit score, debt-to-income ratio, and payment history requirements to qualify for the minimum down payment.

Disclaimer

Northeast Financial is presently in the process of applying for their Mortgage Broker’s license in the state of New York.  Website authorization by the New York State Department of Financial Services is pending.  Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. If you are a New York Resident – please do not submit any information through our website.

 

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Complaint Policy

The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans arranged through third party providers. Does not make loans, issue a pre-qualification or pre-approval in the state of New York.

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