Conventional loans for situations outside the usual box.

Non occupant co borrowers

Conventional allows a family member or other co borrower who won't live in the home, and their income can help you qualify. USDA doesn't allow this. See FHA for comparison.

Buying your next home and keeping this one

This is how a lot of people, me included, start building a portfolio without meaning to. Keep the first home as a rental, buy the next one, and let the tenant pay down the old mortgage.

Keeping your current home

Full details: turning your home into a rental.

Keeping your current home

You can keep your home as a rental and buy another. Lenders may count rent from the old home with a lease and deposit, and often want reserves if you're new to being a landlord.

Parents helping kids buy

A parent can join the loan as a non occupant co borrower, and their income and debts both count. On some conventional loans, the down payment and pricing may differ from a loan where everyone lives in the home, so it's worth pricing both ways. Another option: a gift for the down payment with the child qualifying alone, if their income supports it.

Divorce

Debts assigned to your ex in the decree can often be excluded. Child support and alimony you receive can count with history and continuance. Buying out an ex's share can sometimes be done as a limited cash out refinance.

Buying while relocating

If you're moving to Florida for work, a signed offer letter with a start date can often be used as income. Plan for the timing: some lenders want you to start the job before closing, others allow closing shortly before.

Residency

Permanent residents and many non permanent residents with lawful status and work authorization can qualify. ITIN borrowers usually need non QM options.

Gifts from family

Allowed for primary and second homes with documentation. See gifts by loan.

Keeping the starter home

Mike and Ana outgrew their townhome but didn't want to sell. They rented it out, and with a signed lease and the deposit documented, 75% of the rent counted toward their income. They bought their next home with conventional financing and kept their first property as a rental.