Home Purchase Mortgage Calculators
Mortgage Program Calculators
As long as you qualify as a borrower, you can obtain a mortgage on a property and have your sister live in it. In this scenario you would be obtaining a mortgage for a non-owner occupied property which is different than obtaining a mortgage for an owner-occupied property. We provide a comprehensive overview of non-owner occupied mortgages including borrower qualification considerations on FREEandCLEAR. It is important to highlight that even if your sister lives in the property and pays the mortgage you would be the legal owner of the property and legally responsible for the mortgage.
If you want your sister to legally own all or part of the property you would have to purchase the property together and both be named on the property's title. Additionally, if you want your sister to be legally responsible for the mortgage in addition to yourself, you both would be required to apply for the mortgage as co-borrowers. In that case the lender would also evaluate your sister's ability to qualify for the mortgage including reviewing her credit report and financial profile.