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Can I co-sign on a loan if I will not be living on site?

by g.lemmon172 from Port Ewen, New York. Sep 22nd 2016 Reply

Larry Gray (lgray_312_247)
#594 ranked lender in California - 1,139 contributions

Yes, in certain instances. If you are a relative of someone purchasing a home with a conventional conforming or high balance loan or an FHA loan it is possible to be a non-occupying borrower on the loan.

Sep 22nd 2016
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,072 contributions

Sure... In the mortgage business, we call that a non-occupant co-owner. Many programs allow for that. Contact a mortgage broker in your area for specifics on your situation. In MN< WI, and SD, visit me at

Sep 23rd 2016
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

More info needed, but yes. there are loan products which allow you to be a non occupying co borrower.. Try contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 NMLS# 226347

Sep 26th 2016
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