FHA loan with cosigener

dakovich · Joined: 14 Aug 2006 Posts: 1

here's the question...can you get an FHA mortgage for a multi-family home with a cosigener. my fiance and i will be the buyers and living in the home, my mother is the cosigner but in no way connected to the property other than helping us in getting funding (ie the mortgage)

initially, our loan officer said it was allowed but now he is saying it is not. he is saying we will have to basically "lie" on our application and state the following:

-that my mother will be occupying one of the units in the home we are buying
-that that will be her primary residence
-that she is going to sell her current home

all this is of course just going to be on paper. any comments on this situation...the whole situation just isn't sitting well with us

The Mortgage-Pro · Site Admin Joined: 19 Jan 2005 Posts: 2248

It is illegal to lie on a mortgage loan application. That is loan fraud.