Family Loan


Account Description

·    This program is for a borrower to purchase a property for the parent or child. 

·    The rate is priced to owner occupied standards.

·    Title can be held by individuals, trusts or LLCs.

·    Rate adjustments affect initial rate only, not the margin

 

Down Payment

·    20% Down

 

Eligibility

·    Purchase

·    Single family dwelling, Condo, PUD, 2-4 Units

·    Occupant of subject must be parent or child of the borrower(s)

·    Must set-up auto pay with FFL

 

Loan Limits

·    1 unit:   $417,000

·    2 units: $533,850

·    3 units: $645,300

·    4 units: $801,950

 

Penalties/Restrictions

·    No Prepayment Penalty

Account Features

Account Disclosure/Statements

Assistance

*Speak with a Mortgage Loan Specialist for full details, exceptions may apply.