Balance and fall prevention for seniors. One of the leading health concerns for people over the age of 60 is falling, which is often related to balance problems. Each year, between 20 and 40 percent of adults over 65 who live at home fall.
Who is a co-applicant? A co-applicant refers to a person who applies along with the borrower for a loan. This is done so that the income of the co-applicant can be used to supplement the borrowerâs income and increase his/her eligibility.
One unique feature of the FHA Non-Occupying Co-Borrower program is that they also allow for Non-Occupant Co-Borrowers that are not related in any above manner to be on the mortgage loan. When the Non-Occupying Co-Borrowers are not related to the borrowers the mortgage requires a 25% down-payment to qualify. They must also have some type of document-able long-relationship to the borrowers. For example, a long-time family friend or co-worker, employer of the borrower of the mortgage loan.