NON-BORROWER

Home Forums Purchase Program NON-BORROWER

Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • #30475
    reachelle6
    Member

    HELLO I AM GOING TO BE A NON- BORROWER ON MY FIANCES ACCOUNT BUT I HAVENT WORKED IN TWO YEARS BUT I WILL START WORKING IN DECEMBER 2015, OUR WORKSHOP IS 1/16 AND ALSO WOULD MY COLLECTIONS AND STUDENT LOANS AFFECT HIM?

    #30477
    reachelle6
    Member

    Help!!!! any suggestions

    #30480
    TTrumble
    Member

    Hello reachelle6,

    The financial picture of all adults in the household over the age of 18 will be considered during the qualification process. As such any collections you may have within the past two years and your student loan debt will be a factor.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #30493
    reachelle6
    Member

    ok thanks so i guess we will never qualify because our income debt to ratio will never match up im so heart broken

    #30495
    TRW2294
    Participant

    Reachelle6,

    Not be discouraged, you should still attend the workshop and go to an intake appt.

    I believe I remember reading that all income and debts are taken into consideration, however as long as the “non borrower” as sufficient income to cover their debts, then the debts will not be counted in for the buyers debts.
    Since you stated you have income, if your income is sufficient to pay all your debts like student loans etc, I think you should be okay. As for collections, not 100% sure how they will be taken into consideration. I do nknow that anything with in the last 2 years must be paid for the buyer, not sure about only a household member.
    If you Google ” Naca Forums non borrow” below are a few links

    http://forums.naca.com/?topic=spouse-of-naca-qualfied-member

    http://forums.naca.com/?topic=spouse-of-naca-qualified-member

    Hope this helps!

Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.
Follow us on Facebook RSS Feed Follow us on Twitter