The Family Opportunity Mortgage Program lets people obtain mortgage financing for their college-bound child, disabled adult child or elderly parentswithout the expense associated with purchasing an investment property.Program requirements:
- Parents of college-bound student may qualify if:
- They don’t own a second home in the same location
- Their child is enrolled at a college near the purchase of the property
- The purchase property will not be rented
- Parents of disabled adult children may qualify if the disabled adult child:
- Will occupy the property as their primary residence
- Is unable to qualify on their own
- Note: parents may own and maintain a primary residence
- Adult children of elderly parents may qualify if their parent:
- Will occupy the property as their primary residence
- Is unable to qualify on their own
- Note: Adult children may own and maintain a primary residence