You will hold the note your self and then build his credit while you're on the loan.

Look at this blog it will help you to learn more about your situation.
I've got most of my answers there as well.

Good Luck.

Jajlies,

The FHA program does allow a non occupant co- borrower, this program also will let us provide non- traditional lines for trade lines in exchange for no credit history. Your son will want to establish 3 trade lines such as; rental history, phone bills, utility bills. These are just a few examples. One thing to mention... if you co- borrow you will want to make sure that you can qualify for any other financing in the future you may have because the entire debt/payment will be counted against you in your ratios, even though your son is paying the entire mortgage.

Heather Burns
Wells Fargo Home Mortgage

Hi Jajiles,

Eventually your son will want to establish his own credit. A very good way to have him do this is to apply for a secured credit card and use that for gas and groceries. In about three months, he will want to get an increase as well as to apply for unsecured credit through any bank, maybe where he does his checking. Here is a link where he can get a secured credit card to begin establishing his own credit. Good luck!

http://www.mycreditrepairshop.com

good afternoon.......yes, of course.....he doesn't even need to be working...as long as his credit is either limited, or almost non-existant...you should be fine..he only needs to supply occupancy.......if he had bad credit, it would not work...laslty...even though fha does insure over mobiles on land (with a foundation) not all fha lenders like and will finance mobile homes dispite your credit and credentials........best regards...bob mcclure- success mortgage partners- plymouth, michigan......