55% is the max approval I've seen lately with Freddie Mac's LP (Loan Prospector). However it's challenging to get approvals over 45%, typically need excellent credit, a lot of reserves, good down payment, and previous mortgage history.
You are correct that Freddie Mac permits blended ratios between occupant & non-occupant co-borrowers. The occupant doesn't even need to make any money at all, and the non-occupant's income can qualify for both of their debts.
Shane Milne | Lending in all 50 states | NMLS #81195
shane@thebesthomeloans | 949-273-4161 direct... more
Depends on the level of home you are looking to build. I work with several builders and typically those over $500k will be in the $180 sq ft range to start, where as the those under that level will vary based on fit and finish. I have several plans that fit many price ranges, so if you want to talk more specifics, please feel free to reach out to me.... more