Shelter your loved ones with the Family Opportunity Mortgage

Now you can obtain mortgage financing in Florida for your college-bound children, disabled adult children, or elderly parents without the expense asssociated with purchasing an investment property.

Program Conditions:

Parents of college-bound students may qualify if:

  • You don't own a second home in the same location
  • Your child is enrolled at a college near the purchase property

Parents of disabled adult children may qualify if the disabled adult child:

  • Will occupy the property as their primary residence
  • Is unable to qualfiy on their own

Note: Parents may own and maintain a primary residence.

Adult children of elderly parents may qualify if the parent:

  • Will occupy the property as thier primary residence
  • Is unable to qualify on their own

Note: Adult children may already own and maintain a primary residence.

Mortgage program available for conforming loan amounts only. Fixed, ARM, and Interest Only loans available.

Call The Tampa Bay Mortgage Pro today to learn more about this mortgage and many others to fit your borrowing needs! Or visit me at www.thetbmortgagepro.com

Joshua A. Lerette - The Tampa Bay Mortgage Pro

727-488-7355

josh@netratemtg.com

 

 
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3 Comments on Introducing the Family Opportunity Mortgage

JUL
04
2009

Where do you get these loans?  How old is elderly?

What banks lend these kinds of loans?
mary mae
4:50pm • #2
JUL
17
2009
1 Featured Post

Hello Mary Mae,

Actually if you are looking to buy a home for your elderly parents, I'd be happy to assist you. Elderly...well is loosly defined. If your parents are on S.S., only have part time jobs, then they are considered elderly. Hope this helps.
7:41am • #3
AUG
30
2011

I know of this ruling in the Fannie Mae 2011 Selling Guide.  But my son does not qualify for a conventional loan to buy a house for me.  He only qualifies for an FHA loan.  Do they still allow a child to buy a home for an elderly parent as owner-occupied status?
Nancy
9:20pm • #4


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, FL

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