FHA Mortgage, Loans From Family Are Allowed for King of Prussia, Plymouth Meeting & Wayne Areas
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
FHA Mortgages, Loans From Family With Down Payment Assistance for FHA Mortgages becoming a bit more difficult to find. Another source of funds for down payment to buy a home is a LOAN from an immediate family member. That is right. This a little known FHA underwriting guideline that is allowed. However, not all Mortgage Lenders offer it. Even though it can not be a requirement of the loan, qualified first time homebuyers can obtain the money from their parents and pay it back upon receipt of their income tax rebate. FHA Mortgage Guideline FHA will allow family members to loan 100% of the overall amount of money required to get into a house, including the down payment. There is no supplementary “cash investment” required from the borrowers. More Details: The loan may include some or al...
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