Don’t qualify for the loan yourself? There is hope…

FHA loan's have a number of advantages such as low down payment for 1st time homebuyers. It is also one of the only loan programs that allow non occupying co-borrowers income to be used in qualifying for the loan. Remember the buyer stills needs to be gainfully employed and have good credit.
Non-Occupying Co-Borrowers:
A co-borrower who will not occupy the property, but is being added to the loan application to strengthen the profile is permitted. Maximum financing is available under the following:
The Co-Borrower must be a close family member or demonstrate a long-standing family relationship with the primary Borrower. If no such relationship can be verified, the LTV cannot exceed 75%.
The subject property is a single family detached, PUD, or an approved condo unit.
Co-Borrower must have a primary residence in the United States of America.
A complete credit underwriting analysis will be performed for the non-occupant co-borrower. The income, assets and debt will be included and will be weighed equally with the borrower.
Remember, when purchasing a home using an FHA loan, the condo must be approved be an FHA approved condo as well as the current owner occupant ratio must be 51%.