Non-occupant co-borrower for IHCDA Next Home DPA

Updated: 08/01/2018
Article #: 115


 

Yes it is allowed & non-occupant income not included in household income

Per IHCDA next home below:
Co-signers of the Mortgagor are allowed. Non-occupying Co-Mortgagors are allowed. IHCDA does not include Co-signer and Non-occupying Co-Mortgagor income in the total household income but will include all occupying Mortgagor(s) income. The Participating Lender should exclude the Co-signer and Co-Mortgagor information from the application affidavit that is being submitted to IHCDA.

 

Original question:
Can a non-occupant borrower be added to offset ratios if the combination of income meets income guideline?








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