Family Opportunity Mortgage

A UNIQUE offering TO HELP buy a home for family members who cannot do so on their own.

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.

WHAT IS A FAMILY OPPORTUNITY MORTGAGE?

A Family Opportunity Mortgage Loan offers the ability to finance a home purchase for an aging or elderly family member, an adult child with a disability, or a relative who lacks the capacity to do so on their own.

WHAT ARE THE ELIGIBILITY REQUIREMENTS OF A FAMILY OPPORTUNITY MORTGAGE?

• A credit score of 620 or better.
• Debt-to-income (DTI)* is approved by an automated underwriting system.
• Proof of steady employment and income.
• You need enough income to support your current housing costs plus the additional expenses of owning another home.
  *The debt-to-income (DTI) ratio is the monthly debt/expenses divided by gross monthly income.
  

FAMILY OPPORTUNITY LOAN PROGRAM ADVANTAGES:

• 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.

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