While there are few people in the world who would be happier than I if the below article comes to fruition, I don’t advocate waiting. The scariest part about predictions is they are just that. In an era of remarkable economic swings, I feel better safe than sorry. If refinancing is currently an option, jump. It’s not worth lamenting the .25% savings that COULD take place in the future. As always, please call me with any questions 208-371-4766 jennifer conklin.
The media is constantly telling us that the lending world is frozen and money is not availalbe. This simply is not true. There are still many, many programs that go beyond the realms of typical lending guidelines. Today I’m going to touch on one of my favories, the non-occupant co-borrower. It’s a mouthful to say, but the loan is very simple in design. A parent or grandparent can co-sign with a person intending to occupy the property as his/her primary residence. As long as the co-borrower is financial sound, the buyer need not even have employment. The buyer must meet certain credit requirements, but FHA is lienent in this regard as well. The icing on the cake is this type of trasaction is still eligible for the $8,000 tax credit that has received so much press lately. This is ideal for college students who would spend thousands of dollars in rent over the course of their education and want to take advantage of extremely low real estate prices. Please don’t hesitate to contact me directly with questions or specific scenarios. My cell is 208-371-4766 or email me Conklin.Jennifer@gmail.com.