my son bought his first home in the last year. can he buy a second home and let me live in it??? (we are looking for low down payment options)

Asked by candm.01, Phoenix, AZ Sun Jun 9, 2013

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11
Anna M Brocco, Agent, Williston Park, NY
Sun Jun 9, 2013
If he qualifies for another mortgage yes, therefore for a personalized answer, visit with any licensed loan officer...
1 vote
Michael Sedi…, Agent, Phoenix, AZ
Mon Jul 8, 2013
Hello,

There are many options available regarding another home purchase for your son.

I wanted to forward my lender contact information , let me know how I may help!

City North/ Desert Ridge Location
Timothy Potempa
Sr. Loan Officer
Office/Cell: 623.570.0781
Fax: 602.464.7396
NMLS:454708

5450 E. High Street Suite 260
Phoenix, AZ 85054

http://www.novahomeloans.com/timothy.potempa
0 votes
Rebecca Kall…, Agent, Gilbert, AZ
Tue Jun 11, 2013
This is definitely something that can be done!!
If you would like to discuss your options please feel free to give me a call and we can discuss what the future's looking like!
480-275-9566

PS. I really look forward to working with you soon!
0 votes
Jeffrey Masi…, Agent, Scottsdale, AZ
Mon Jun 10, 2013
Dear Can:

Yes, if he has the cash or can qualify for another mortgage. Many questions to ask first. To find out, have hime talk to his lender. Here are some to try: http://www.arizonahomesland.com/arizonamortgageloans.html

Call me with questions.

Jeffrey Masich, Realtor, GRI, MBA
HomeSmart
Arizona homes and land for purchase or sale
http://ArizonaHomesLand.com
JeffMasich@ArizonaHomesLand.com
480-556-0940
0 votes
Bianca Benne…, Agent, Glendale, AZ
Mon Jun 10, 2013
He could purchase a 2nd property as an investment, however he would need to speak with a loan officer to make sure he qualifies based on his monthly income.
0 votes
Jennie Miller…, Agent, Phoenix, AZ
Sun Jun 9, 2013
It will depend on the loan structure. Has your son spoken with a lender regarding this?
0 votes
Justin Schle…, Agent, Glendale, AZ
Sun Jun 9, 2013
You've pretty much already been told all the good information so now depends upon whether he can qualify to purchase another and then where the property would be located.

As you'll find, there are many good Realtors to choose from for representation. If we can be of assistance, please let me know.

You can search the full MLS on my website: http://www.MetroPhoenixAgent.com

Thanks!
0 votes
Doug McVinua, Agent, Gilbert, AZ
Sun Jun 9, 2013
We do have a few options for low down payment in your situation. It is possible to purchase with a family member and have low down payments.

Interest rates are still very attractive also.

Where would you like to find a home to live in? How many bedrooms do you need/want?

Would you like a newer home?

Single level home?
0 votes
Holly Brink, Agent, Spencer, IA
Sun Jun 9, 2013
If he qualifies for another mortgage. However if its not his primary residence be prepared to put 20% down.
0 votes
Ryan Cramer, , Phoenix, AZ
Sun Jun 9, 2013
I have a great program that he can use to buy a home for you. Otherwise it will be considered investment and require more money down.
0 votes
Craig Frooni…, Agent, Glendale, AZ
Sun Jun 9, 2013
I agree with Anna, it depends on qualification and the only way to know is to talk to a Mortgage Agent.
0 votes
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