Yes....and I'm betting we'll see a full explanation of this on your blog soon! Am I right, Khash?!! 

Sure, but co-signing is not something to consider lightly. You are on the hook and without benefits!

Yes they can. And I don't see this question as a promotional thing, nor does it have to be rephrased. I have no problem with it.

You tell us, sensei!
#khashtagtime

  Yes.   But you need to get a definitive explanation of the process from a professional mortgage lender like Khash Saghafi. 

 Jason E. Gordon, what say you sir, oh Oracle of my mortgage division?  

MR. Kash seems to think we need to know his industry as much as our own. But, when you surround yourself with smarter people and know how to delegate and be a leader, well...you have my business.

"I am not the smartest, but I surround myself with competent people."~ Henry Ford

Keep asking questions....

YES!

What you are seeking here is a "Non-Occupying Co-Borrower" (i.e. someone to help guarantee the loan who will not live in the subject property). Whenever this option is pursued, we will "mesh together" all of the debts & income for all Borrowers for debt-to-income (DTI) ratio purposes. This means that the primary housing payment for the Non-Occupying Co-Borrower will be included in the DTI calculations. Assuming no DTI issues, we typically have ourselves an approval (from a cash flow standpoint).

That said, the 592 FICO Score eliminates Fannie/Freddie (i.e. Conventional/Conforming) Loans from contention, unless a Rapid Re-Score (to get the FICO to 620+) is possible. From a FICO standpoint, the 592 score is still eligible on an FHA loan. We would just need to make sure the property was eligible for FHA financing (i.e. if the property is a condominium, it must be FHA approved).

Any credit scores below 600 should be examined by a Mortgage Professional rather than offering any "blind assurances" for approval (as scores that low are low for a reason...we need to determine the details before assuring all parties we have a green light).

Many Lenders have overlays that require a 600 or 620 FICO, while others will puruse a "manual underwriting approval" for the lower scores. Best to have this file underwritten ahead of time before any offers are submitted.

Thank you for looping me into the conversation Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D ... I'm always happy to contribute to the AR Community

I am not a lender, however, I believe the answer is Yes.  As with all loans, the application and loan package will need to get underwriting approvals.  This is why I have a lending partner to help my clients. 

The answer is "yes" but there are more details and possible consequences to consider.

Of course they can. Banks don't care who pays, just show them the money and sign on the dotted line. Or provide a guarantee; everyday business (but guarantees are trickier).

That's a great questions for a licensed mortgage broker. 

this is often a "tough place" Khash Saghafi .... but you're thick skinned.... not that you should need to put up with anyone's s_ _t .... I'd be kicking some ass, if I were you.... but that's me, not you.

I would ask a lender, but I think the answer to this is yes.

I've seen it done. My husband and I co-signed for our daughter and son-in-law when he was in graduate school. We never lived in that house in Iowa. (Plus what Scott Godzyk said. This Q&A section is not meant as a quasi-promotion for one's posts.)

I see others have chimed in, but I'd just add that it depends what those credit issues are.  If AUS likes the file, then the non-occupant coborrower is welcome to help.  If not, there's always a manual underwriting option, but those credit issues would be scrutinized pretty heavily especially if they're recent.

Yes,

And one of the way to make your presence known is to comment on blogs.

Yes.  I've seen that a few times over the last couple years.  Mom and dad helping the kid's family be closer to them.  Something about grandkids.

Isn't that what cosigners are for?

Great blog by you today explaining this.

For 15 points , I’ll say Yes

I believe there are lenders who do a higher down payment on FHA for even a 580 score n=but they need to talk to a financial advisor to see if home ownership is for them now or should they wait a bit.

Yes, I do know that Khash Saghafi . Although q and a is not meant to answer your own question, you should put it all in your blog. Q and A is also not meant to promote your blog or anything, just ask or answer questions. You coudl rephrase your question and still get some promotinal push without violating q and a though 

I am going with this is primarily a rhetorical question LOL so I'll look for all the answers 

I was thinking this was a trick question - I always refer these scenarios to my lender.

I would have to say depends on how the loan is set up

No ide

Khash Saghafi - I am sure it should be possible. (Again, not a lender but just feel it is possible.)

Yes,I believe so. This also depends on the lender being used and what products they offer.  

Yes.  However, co-signers exposed to the risks that may should not take. 

Of course

You are in the mortgage business and you don't know they answer.  The answer is yes.