Real estate blog entries tagged with family opportunity by Rob Spinosa, Mortgage Loan Originator, Marin County (US Bank)

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family opportunity: How to Rock a Family Opportunity Loan - 05/04/22 08:49 PM

How to Rock a Family Opportunity Loan

Looking to purchase or refinance a home for your elderly parents who wouldn't otherwise be able to obtain a mortgage on their own?

Looking to assist a disabled or special needs adult child with housing or his/her own?

Or how about putting a college-bound child into off-campus housing that you decide to purchase?

All of these are both common scenarios and often difficult ones as viewed by the inflexible guidelines in the mortgage industry. Until now...

The Family Opportunity Mortgage can be a great way to thread the needle of otherwise detrimental occupancy requirements for primary homes, second or … (4 comments)

family opportunity: All in the Family Opportunity - 09/19/17 07:42 AM

All in the Family Opportunity

I was just trying to help the guy out. He wanted to refinance his mortgage but his credit scores and debt-to-income ratio prevented him from doing so. His response was not all that unusual. "This makes no sense! I'm already paying the higher mortgage so why won't you let me get a lower payment? Do you think I'm going to have trouble making the lower payment?"

Look, I see the logic here. But I had to explain that the CFPB and our "looking-out-for-the-consumer" regulators have clearly dictated to us lenders what we can and cannot do and if you don't qualify for … (6 comments)

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