This property is a short sale, and it doesn't look to have a rent with option to buy at this time. My advice would be, to work dilligently on getting any credit issues you have cleaned up first, and then begin the home search. Additionally, there may be some other options in the area that I'd be happy to send you. Please feel free to contact me at any time if you need additional information.
Yes, having a non-occupant co-borrower on the loan can be used to lower the overall debt to income calcuation used in the loan approval process. Keep in mind that not only will the co-borrowers income be added to the application, but that their liabilities will be included as well. FHA loans will not require you to maintain a specific debt to income ratio while conventional (Fannie or Freddie) loans will, depending on your overall down payment. Please do not hesitate to contact me w/ any additional questions, Thanks... more