: You can find these options through major lenders like SoFi or FNBO .
: You get the same favorable interest rates and low down payment requirements (as low as 5%) as a primary residence, even though you won’t live there. buying a house for a relative to live in
Buying a house for a relative to live in involves choosing a financial structure that balances your budget with your desire for control and potential tax benefits. Because these are "non-arm's length transactions," lenders and the IRS often provide closer scrutiny. 1. Choose a Financing Strategy : You can find these options through major
: If the relative doesn't meet the "disabled child" or "elderly parent" criteria, you can buy the home as a second residence or investment property. How you hold the title determines what happens
How you hold the title determines what happens if someone passes away or if you decide to sell: Helping a family member buy a home - Merrill Lynch