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Private Lending & Conventional Mortgage Advice

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Jesse Poll
Pro Member
  • Real Estate Agent
  • St George, UT
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78
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Can a co-signer be used to offset debt/income ratio on an FHA loan?

Jesse Poll
Pro Member
  • Real Estate Agent
  • St George, UT
Posted Apr 9 2012, 06:55

I have tried searching this myself with no luck. It used to be that you could use a co-signer for income purposes. Has that changed? Anyone that can lead me to where to find this information I would appreciate it.

The situation is this;

My wife's income can no longer be used to qualify because her employment will change within the next two months. This will come out when they verify employment.
We have good credit, 750 scores.
I have a co-signer to use for D/I verification.
This would be a non-owner occupy co-signer.
The property that I will be purchasing will be a multifamily 4-plex with me living in one unit.
I am not sure what other information is needed to answer this question, hopefully I have included enough.

Thanks

Jesse

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