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Want to buy a duplex with my parents how to I go about getting the best deal?

I am the only child.  My credit isn't great and I have never owned a home.  My Dad on the other hand has Perfect credit if there is such a thing...  He is 80 and his health isn't the best and Mom wants me to be close to them.. I was thinking.. a duplex since I am not sure I could live with my parents but I could live close enough to take care of them.. what type of financing can I get with a 575 credit score ?  should I get the morgage or should my dad get the morgage or both??
  • March 25 2013 - US
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Answers (3)

Best Answer

Not sure what city you live in, but its generally best  - in this economy - to work with a Realtor. They have access to duplexes and/or similar properties that would fit your need. Its FREE to you to use a Realtor - I wouldn't go it myself in this type of market.
  • March 25 2013
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Yes, I would start talking to a few LOCAL Realtors first - they will recommended your options and lender referrals. Don't go with the first one you talk to.... Get your arms wrapped around that is needed, and get multiple opinions. A duplex may not be your best option, but it just might be. A lender will tell you your financing options. Get a coupler referrals there also...
  • March 25 2013
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Thanks.  I am in the Oklahoma area.  Do I need to get a realtor and a lendor?  are they the same?  My dad has owned many homes, would he qualify for a fha loan??...   this is all so new to me????
  • March 25 2013
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