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Updated over 7 years ago, 06/22/2017
FHA Experts? A question on 4155.1 4.A.1.i
A question on this section for FHA loans:
I was wondering whether it was possible to contribute part of the down payment to a home (alongside the primary homebuyer who will live there, I will not live there), be on the title, but not be on the note /guarantee the mortgage. This section implies that it's possible for FHA. However, in the borrower source of funds sections, it doesn't really provide for having a non-occupying non-borrower provide funds?
In the same light, if this party has an ownership interest but is not applying for the loan, can that party be an LLC?
Thanks, BP!
Michael