Question
My buyer wants to move from a rental to buy a small Town House, they are recently divorced and back in the workforce, but feel they cannot afford a Mortgage, Taxes, Insurance and Maintenance without their daughter as a co-signer. The daughter lives in NY and will not be residing in the property.
Do you have a program for this?
Answer
Yes, we term this as a None-Occupant Co-Borrower and just closed this scenario a couple of weeks ago, the program allows the daughter to contribute to the housing expense debt ratio without residing in the property the parent is purchasing.
If you have a scenario that you would like advice with, please drop me a line to discuss the options
Keep Selling!