Non occupant coborrower

[Heidi Cousineau]

Hey BP community 👋

I’m at the very beginning of my investing journey and could use some insight or lender referrals.

I’m trying to buy a 2–4 unit multifamily property in the Troy, NY area, ideally house hacking it to get started. I’ll be living in one of the units and am exploring both FHA (3.5% down) and Conventional (5% down) loan options.

Here’s my situation:

• I’ll be the occupant-borrower.
  
• Credit Score: ~650
• Income: $60K base + variable commission (1099 + W2 mix)
• I also run a small construction side hustle bringing in additional income (not fully documented yet)
• My best friend and investing partner will be a non-occupant co-borrower.
  
• Credit Score: 780
• Income: $150K/year W2
• Zero debt
• She won’t live in the property but we’re 50/50 partners on all deals

We jointly own an Airbnb in Florida (our first!), but it hasn’t been operating for a full year yet, so I know that rental income may not help us qualify.

My questions:

• Have any of you used FHA with a non-occupant co-borrower?
• Would we have a better shot going conventional?
• Any lenders you’d recommend who understand creative structures like this?
• Are there other financing strategies we’re missing?

We’re not afraid to hustle—just want to make sure we start smart. Our long-term goal is to scale to 1,000 doors, and this is our first real chess move.

Grateful for any insights, lender intros, or advice 🙏

—Heidi