This unique mortgage loan allows the borrower to obtain the loan at the same mortgage rate and down payment as if they were going to live in the home themself.
A Family Opportunity Mortgage Loan allows you to finance a home purchase for an aging family member or an adult child with a disability.
A credit score of 620 or better.
Debt-to-Income (DTI)* approved by automated underwriting system.
Proof of steady employment and income.
Enough income to support your current housing costs plus the additional expenses of owning another home.
*Debt-to-income (DTI) ratio is monthly debt/expenses divided by gross monthly income.
Lower down payment than second home or investment property loans.
Standard owner-occupied mortgage rates.
The borrower does not have to live in the property.
No distance requirements from the borrower's primary residence.
A loan program to help purchase a home for a family member, such as an elderly parent or adult child with a disability, at the rate and down payment as if purchasing for yourself. To get prequalified or start the application process, contact an FLB Mortgage Lender, email us for more information, or visit one of our branch locations in Oklahoma City, Oklahoma, Norman, Oklahoma, or Frisco, Texas today!
This is not a commitment to lend; you must submit additional information for review and approval. Rate, Annual Percentage Rate (APR), and terms are subject to change without notice. Certain restrictions apply to all programs. See your FLB Mortgage Loan Officer for complete program guidelines, loan application, applicable fees and annual percentage rates (APRs) for all loan programs. Full underwritten approval is required, and all loan approvals are subject to credit, income and asset review and approval. Bank NMLS#1215182