Please email your buyer scenarios to Jeff Lazerson by clicking HERE or call him at (949) 322-8640 and let’s see if we can solve your loan approval challenges!
Week of 11/19/16:
Older mom needs a place to live. Good daughter buys a condo for mom nearby. Daughter covers the down payment. Daughter alone qualifies for the additional mortgage. Daughter gets a competitive owner-occupied interest rate (can be as little as 5 percent down). Mom moves in. Daughter is the hero.
This loan is much better than taking out a reverse mortgage. It’s called a parent loan.