EDITORS NOTE: Mortgage programs change often. Family Opportunity Mortgage is sadly no longer available… who knows…maybe lenders will bring this back and I’ll be having to update this post again! There are new underwriting guidelines that may work for your situation. If you are interested in this product for a home located in Washington state, please contact me and we’ll see if it’s available or if another mortgage program will work for your scenario.
I’ve written about the Family Opportunity Mortgage for purchases where certain circumstances allow one to obtain a mortgage for a family member who is either a student in college, a disabled adult child or an elderly parent. The Family Opportunity Mortgages allows financing to be treated as a primary residence instead of an investment property as long as the scenario meets certain guidelines. The Family Opportunity Mortgage is a Fannie Mae/Freddie Mac program that is also available for refi’s! [Read more…]
Recent Comments