Hi Gene, I've been doing FHA loans for over 10 years, and have been able to get everyone from God Parents to their best-friend-since-kindergarten approved!

As Katy mentioned, pre-approval is a vital step - the sooner you start, the better. Another thing you should know if that lenders are constantly tightening up and changing their parameters, which makes it harder for people to qualify. This is an industry-wide issue, so again, the sooner you start, the better.

That being said, I would love to talk to you more about your scenario to let you know what all your options are. Because I'm a broker, we'll be able to look at a number of different lenders for a program that will fit our needs. Please feel free to call or email me at your convenience. I look forward to helping you!

Possibly....the rule is that the Co-Borrower must be a close family member or demonstrate a long-standing family relationship with the primary Borrower. If no such relationship can be verified, the LTV cannot exceed 75%. So, if you have sufficient funds to cover the 25% of the purchase price for the Down Payment.....or you can demonstrate a long-standing family type relationship, you should be OK. Have you started the pre-approval process? This is such an important step. Let me know if you'd like a referral to a great lender in the Grass Valley area.