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hi, i am a college student and i am somewhat confused on how i can get an FHA loan with my dad (co-borrower non-occupant). i don’t have an income but i can get a part time job. how should i go about getting the loan? i have no credit history, would that be a problem?

3 Thoughts on FHA loans for students?
  1. Reply
    Common Sense
    February 8, 2014 at 9:47 am

    You won’t get a loan without a stable income and a couple years of good credit history.
    You think a part time job is going to cover the mortgage, taxes, insurance and maintenance? Think again.

  2. Reply
    TRIXIE
    February 8, 2014 at 10:33 am

    not going to happen. you need 2 years employment in the same line of work.

  3. Reply
    Arbor Mortgage
    February 8, 2014 at 11:11 am

    Your dad can be a non occupant co borrower for an FHA loan for you, even if you don’t have a job. Your dad would have to qualify for the entire mortgage then, and his current debt load, including his own mortgage.

    Most FHA lenders do require a credit score of 620, so having no credit at all could be a problem. Your first step would be calling a bank or mortgage lender that specializes in FHA loans and have them pre qualify you. They can pull your credit to see where you stand, and run the numbers with your dad’s income to see if you’ll qualify that way.

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