About The Author. Stacey Sprain – As an NAMP® staff writer, Ms. Stacey Sprain is currently a NAMP® member in good standing, and is a NAMP® Certified Ambassador Loan Processor (NAMP®-CALP). With over 15+ years of mortgage banking experience, Stacey is also a Quality Control Manager for a major mortgage lending institution.

A Family Opportunity Mortgage is Built for You. A great mortgage program here in Colorado that has always been around for quite some time, is the family opportunity mortgage program. Not many people inquire about it, however it can literally save you tens of thousands of dollars upon the purchase of a home, and even more in interest over the.

Home Buying Qualifications Here are the FHA’s MIP amounts: A borrower must meet ten loan and credit qualifications for the FHA to insure a loan: Home buyers will find FHA loans that are 15 or 30 years in length, and at fixed.

Resource Financial Services is proud to offer Fannie Mae’s Family Opportunity Loan, which allows you to purchase a property for your parents if they cannot qualify on their own credit. If you are interested in purchasing a home in one of the nine states in which we are licensed – Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia – we may be able to help you save money on a second home.

Family Opportunity Mortgage If your parent is a senior citizen, Fannie Mae’s "Family Opportunity Mortgage" allows a working child to finance his non-working parent’s home without added fees. It is structured and underwritten as a "second home" similar to how financing would work on a vacation home.

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The down payment can come from family gift funds or your own money, and you must live in the home you’re buying and pay mortgage insurance on the loan. The mortgage insurance can be cancelled once you achieve 22-percent equity in the home by paying your loan down.

Basic Purpose of a Family Opportunity Mortgage The idea behind the Family Opportunity mortgage is to give qualified people a chance to buy a home for either their children that are in college or their elderly relatives without the requirement to live in the home themselves.

Government Program For Mortgages An advisory on the U.S. Department of Homeland Security’s website warns that the 35-day, partial federal government shutdown in late 2018 and early 2019 has resulted in a substantial backlog of.

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the. The Fannie Mae Family Opportunity Mortgage enables you to take advantage of those lower owner occupied rates, however, making it even more.

Grants For Buying A House With Bad Credit Can You Buy a House With Bad Credit? – The Balance – Put your fears about buying a home with bad credit aside. Just because you have bad credit or filed bankruptcy or gone through a foreclosure does not mean you cannot buy a home.You most certainly can buy a home with bad credit.

The Family Opportunity Mortgages allows financing to be treated as a primary residence instead of an investment property as long as the scenario meets certain guidelines. The Family Opportunity Mortgage is a Fannie Mae/Freddie Mac program that is also available for refi’s! Appraisal, Appraiser, FAQ, Frequently Asked Questions.