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FHA loans will allow a parent (or immediate family member) to cosign on a loan.  Unlike a conventional loan where if a parent co-signs they require a down payment of 10% or more, FHA only requires 3.5%.  Here are the benefits of having a parent co sign on a FHA loan:

• If your buyer does not make enough money to qualify the parent's added income can help them qualify. 
• If your buyer does not have a lot of credit or long enough(time) credit.  The parents established credit can help solve this problem
• The parents can gift ALL of the down payment.  Even if they do not co sign on the loan.

Please keep in mind the buyer(child) must still meet the credit score requirement of 620.  Right now it is important to know all the financing options that are available to your buyer.