Question:
Can a parent, as a non-occupant co-borrower, purchase a primary residence if their adult child will be living there during college? The child does not have a source of income.
Answer:
Yes, this can be treated as an owner-occupied if the child has a useable credit score. We allow all the income to be driven by the non-occupant parent. Maximum financing for a single-family dwelling with a non-occupant co-borrower is 95%.
