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

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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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