10d • 💎 General discussion
🏡👵🏼 Nursing Home for Parents? Grandparents?
Info from ChatGPT <—Find all the info here
Here’s is some interesting information that I just learned about.
🛑 A Family Opportunity Mortgage lets you buy a home for your aging parents (or a disabled adult child) without them qualifying for the loan—and without you living there.
* You qualify using your income and credit
* Your parent lives in the home as their primary residence
* The loan is treated like an owner-occupied mortgage (even though you don’t live there)
👉 That last part is the big advantage.
Why it matters:
* Lower interest rates
* Lower down payment (often ~3–5%)
* Easier approval than investment properties
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🏡👵🏼 Nursing Home for Parents? Grandparents?
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