FHA Loan Requirements for Non Occupant Co-Borrowers in California is a post from: FHA,VA and Conventional Home Loans in all 50 States
FHA loan requirements have a great rule where they allow non-occupant co-borrowers to help a borrower applying for a loan qualify for a FHA loan in California. So if you want to get a FHA loan to buy a house in California and you can’t quite qualify on your own, if you have a relative that would be willing to be a co-borrower, this could put you over the top and have to qualify. Here are some main points about FHA loan requirements for non-occupant co-borrowers in California:
- the non-occupant co-borrower has to be a relative
- all the income and debt obligations will be combined for the FHA loan approval
- the FHA lender will take the lowest of the middle credit scores of all borrowers
So if you are looking to get a FHA home loan in California and can’t quite qualify on your own, you might want to consider asking a relative to help you qualify. The best FHA non-occupant co-borrowers are those with a good income and not a lot of debt obligations and good credit. It doesn’t make sense to add a non-occupant co-borrower to a FHA loan that has a lot of debt where there added income doesn’t help.
If you have any questions about getting approved for a FHA loan in California don’t hesitate to call at 858-922-7899 or email at homeloan8@gmail.com.
Here are some highlights of FHA loans in California:
- FHA loan limits in San Francisco, Oakland, San Jose go all the way to $625,000. FHA loan limits in Orange County, Los Angeles, Anaheim, Santa Ana also go up to $625,000. FHA loan limits in San Diego are $546,250. FHA loan limits in Riverside are $355,350.
- FHA loan interest rates are at ALL TIME lows
- FHA loan credit score does not have to be perfect. Give us a call if you have questions about your credit and we can assist.
Related posts:
- FHA Loans Allow Non-Occupant Co-borrowers In California
- FHA Home Loans Allow For a Non-Occupant Co-Borrower
- FHA Loan Requirements To Exclude Co-Borrower Debt in California
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