FHA loans, having my son as the owner occupant

FHA loans, having my son as the owner occupant

Machine designer · Columbiaville, MI · Member since 2015 · 65 posts · 10 votes

Was wanting to us an FHA home to buy a multi-family property. My son is looking for a place to live and I want to use him as a property manager. I am wanting to use an FHA loan because I do not have a lot to put down. I went to the FHA website and they do have a provision for more than one person to be on the loan and both do not have to live their under certain circumstances. One of the ways that this is allowed is if the co-owners are blood relatives. Here is where I found this rule

http://www.fha.com/fha_article?id=513

So the question is how do I legally put my son on the loan?

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  • Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    10y

    You buy/contract in both of your names, and you will both go through the loan approval process. First step before you make an offer, talk to an FHA lender.

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