mhauck, Other/Just Looking in Pennington, NJ

I'm interested in purchasing a Brandon Farms condo that is moderate income housing for my mohter. Does thei income cap apply to her or to me?

Asked by mhauck, Pennington, NJ Sun Jun 23, 2013

This question was asked from http://www.trulia.com/property/3096449695-203-Gentry-Ct-Penn…

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To the titled owner. You would need to confirm with your financial planner if the use of your funds constitutes a gift to your mom, subject to IRS regs, but the source of funds would not likely affect her qualification to own a low-moderate unit. If you were taking a mortgage and the lender required you to be on the tile, THAT may affect the qualification for the L-M unit. Check with the Twp, there is a person there that handles this for Hopewell Twp affordable housing, or call us, or some other experienced agent to help you navigate thru the purchase of a L-M unit here.
0 votes Thank Flag Link Sun Jun 23, 2013
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