As for the question of tax deductibility of property taxes and mortgage interest, you can never go wrong asking a tax professional FIRST, then finding a good mortgage consultant to walk you through the financing. We'd be glad to help.
FHA allows a non-occupant co-borrower and will include their income in qualifying. However the non-occupant co-borrower needs to be a family member (spouse, parents/children, sibling, stepchildren, aunts/uncles, nieces/nephews) otherwise the maximum loan-to-value is 75%.
Shane Milne | Lending in all 50 states | NMLS #81195
If it is an FHA loan you can have a non occupant coborrower and it will not affect the rate.
If it is a conventional loan, if two people buy the house and the occupant is the only one on the note the rate will not be affected. If both are on the note the rate will be higher as it will be considered an investment property. Not a blended rate but the investor rate
Who gets to claim the mortgage interest deduction? I have a client who has a mortgage on a home and a family member pays the mortgage and claims the tax deduction even though they are not on the note. As for who gets to claim the real estate taxes as a deduction, the IRS says it is the person that paid them.
Yes it can be done with FHA....not sure about homepath.