Get Home Affordable Modification Program Non Borrower Occupant Certification Form

Non-Occupant Co-Borrowers/Co-Signers: Any co-borrower or co-signer being added to the note must be an occupant of the property securing the new FHA-insured mortgage. Non-occupant co-borrowers or co-signers may not be added in order to meet FHA's credit underwriting guidelines for the cash-out refinance.

There's no legal limit to the number of co-borrowers on a mortgage, but lenders rarely take applications from more than four or five borrowers due to limits on underwriting software.

For a conventional loan, because they are a borrower, non-occupant co-borrowers will have to sign on the loan, but they don't need to be on the property title. For FHA loans, non-occupant co-borrowers are required to be on both the title and the mortgage.

The non-occupant borrower income flexibility is available for all Fannie Mae loans, including HomeReady® mortgage. For more information on non-occupant borrower eligibility requirements, refer to Selling Guide section B2-2-04, Guarantors, Co-Signers, or Non-Occupant Borrowers.

When the LTV ratio is equal to or less than 90%, a nonoccupying endorser, guarantor or surety is permitted, but the occupant Borrower must be able to qualify for the Mortgage in ance with Chapter 5401.

A non-occupant borrower is anyone, such as a parent, who is willing and financially able to be a borrower on the mortgage, but who will not live in the home.

Conventional loans Fannie Mae and Freddie Mac allow non-occupant co-borrowers. When using a conventional loan, the co-signer is required to sign the loan but does not need to be on the property title.

The non-occupant co-borrower may have their name placed on line #2 of the sales contract. The sales contract should reflect that it is an owner occupant transaction. The non-occupant co-borrower does not sign the sales contract or any addendums. The non-occupant co-borrower is reflected on the prequalification letter.