Financing in 33710>Question Details

Help, Home Buyer in 33710

Sallie Mae allows a child to purchase a home (owner occupancy status) for their parents if their parents can't qualify for a loan. Same for

Asked by Help, 33710 Tue Aug 30, 2011


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Sallie Mae is for student loans. FHA and FreddieMac allow relatives to be co-borrowers even though they won't live there. If your parents are 62+ have they explored a reverse mortgage? There is no income or credit qualifications.
1 vote Thank Flag Link Wed Aug 31, 2011
Okay, I think Sallie Mae is actually for student loans but I think you mean Fannie Mae...

I believe FHA allows a non-occupant co-borrower to help a parent buy.

For an accurate answer Contact: Call David Clark 404-424-0699 or toll free 866-970-7283 ext 7885

If you're not yet working with a Realtor, you're welcome to browse "like a Realtor" on my website:

Sign up for a free Listingbook account.

Also if you are willing to buy an ugly fixer upper, you can buy a HUD owned foreclosure with an FHA 203K fixer upper mortgage and only put $100 down! You can search available HUD foreclosures, here, and I can show you those homes, too and input your bid.

All the best,
Alma Rose Kee, PA
Future Home Realty
1 vote Thank Flag Link Wed Aug 31, 2011
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