New program that allows an Adult Child to purchase a home for their parents and it NOT be considered investment property. Â This is a 95% LTV
Knowing that your parents have a roof over their head is important. You can help your
elderly parents purchase a property, if they canâ€™t qualify on their own. With this program,
the property would be classified as a primary residence for Mom and Dad. This means you
can provide a home for your loved ones and invest in property at the same time.
There are no distance requirements for the location of your parent's residence, so they can
be your next door neighbors or across town.
HOW IT WORKS:
- Your parents must have insufficient
Â Â Â Â Â Â income to qualify for a mortgage of
Â Â Â Â Â Â their own
- You are the primary source of loan
Â Â Â Â Â Â qualification
- You own the property, but your parents
Â Â Â Â Â Â may also be on the title
Call me today to apply for this loan through my preferred lender!!