On certain loan structures such as FHA, you can have a CoBorrower that does not occupy the property. This is known in the mortgage industry as a non occupant CoBorrower. The non occupant CoBorrower's expenses will be calculated into the debt to income ratio so if he/she owns a home, that mortgage payment will be counted in the total debt to income calculation.
A non occupant CoBorrower is mostly used to enhance the debt to income ratio or to help establish credit when the Borrower does not have enough credit. A non occupant CoBorrower will not be beneficial to help overcome bad credit.
A non occupant CoBorrower is mostly used to enhance the debt to income ratio or to help establish credit when the Borrower does not have enough credit. A non occupant CoBorrower will not be beneficial to help overcome bad credit.