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Can you use a non owner occupant for a conventional mortgage?

by jj_fueller254 from Livingston, New Jersey. Sep 25th 2014 Reply


Sharon Duffy (sduffy)
#72 ranked lender in Pennsylvania - 595 contributions

Applications with occupant and non-occupant co-borrowers when the LTV is greater than 80%, the minimum required contribution must come from the occupant borrower;o? Non-occupant Co-borrowers, the maximum LTV/CLTV is 90%. Interest Only loans are not eligible. The non-occupant co-borrower may be a relative or a person with an established relationship and motivation. Sharon 732 606 6264

Sep 25th 2014
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Hi JJYes there is a way to get a conventional mortgage. Please feel free to call me so we can talk about the details.

Sep 25th 2014
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Jamie Lynne (nationwidelenderforyou)
#142 ranked lender in Texas - 575 contributions

Yes you can! If you're applying for a conventional loan with a non-occupying co-borrower, you must pay at least 5 percent of the down payment. You can include the co-borrower's income on the application only if the lender underwrites the loan manually. If the lender uses automated underwriting, your income must be high enough to afford the payment on your own.Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been lending nationwide since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803 or 973 979 4100

Sep 26th 2014
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