Helping Parents Age Gracefully: A Smart Housing Solution!

As our population ages, many of us are finding our parents need a little extra help—especially with housing. Whether they’re downsizing or moving closer to family, the demand for creative housing solutions is growing. That’s where the Family Opportunity Mortgage comes in. This unique program gives adult children the ability to purchase a home for their elderly parents with all the perks of a primary residence loan.

Program Details:

The Family Opportunity Mortgage is a conventional loan designed for situations where parents can’t qualify for a home on their own.

Here’s what makes it stand out:

• ✅ Primary Residence Benefits: Lower interest rates and smaller down payment requirements (as low as 5% in most cases).

• ✅ Flexible Qualification: The adult children’s income and credit are used to qualify for the loan.

• ✅ Parent Occupancy Requirement: The parents must live in the home as their primary residence.

General Guidelines:

• The parents cannot qualify for a mortgage independently due to income or credit limitations.

• The property must be a single-family home, condo, or similar—no multi-unit properties.

• The child purchasing the home must qualify under conventional loan standards, including meeting debt-to-income (DTI) and credit score

Pros:

• Better loan terms compared to a second home or investment property purchase.

• A way to keep elderly parents close and secure without cohabitation.

• Builds equity for the family rather than renting.

Cons

• The buyer’s DTI will include this mortgage, which may affect future borrowing.

• Parents must live in the home, so it can’t be rented out.

Let’s Review Options Together

Have questions about how this program works or have someone that could benefit from the prigram? I’d love to help!

📞Reach out today 480.818.3769, and let’s work together to support more families.