How to Buy a Home for Your Parents | Guide to Family Opportunity Mortgage Program
Designed for those looking to support their aging parents or disabled children in homeownership, this video provides a deep dive into the unique aspects of this lesser-known mortgage option. Shanna explains how this program allows you to purchase a primary residence for your loved ones with as little as 5% down, and without the financial burden falling on them.
Discover the qualification requirements, including credit scores and debt-to-income ratios, and learn how to craft a compelling letter of explanation. This masterclass also addresses the implications of this mortgage on your future property purchases, offering invaluable insights for anyone considering supporting their family through this innovative financing option. Whether you’re a first-time buyer or looking to expand your property portfolio while assisting family members, this video is your comprehensive guide to understanding and navigating the Family Opportunity Mortgage program.