Zillow Advice: Mortgage Types - Family Opportunity Mortgage in 2013? http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ Zillow Advice | Zillow Real Estate Is anyone doing Family Opportunity ... http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ Is anyone doing Family Opportunity Mortgages in Florida? &nbsp;We need to buy a &nbsp;home for a disabled adult son. Tue, 30 Sep 2014 16:55:00 GMT http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ 2014-09-30T16:55:00Z Harbor National Bank Wholesale/Correspondent ... http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ Harbor National Bank Wholesale/Correspondent offers Family Opportunity, we sell directly to FNMA with no overlays.&nbsp; For more information, contact me.<br/>Chad Gilmore&nbsp;<br/>[Contact information removed by Zillow moderator. &nbsp;Please refer to our&nbsp;<a style="text-align: right;" href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a>]&nbsp; Thu, 11 Sep 2014 14:12:00 GMT http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ 2014-09-11T14:12:00Z Just got off the phone with ... http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ Just got off the phone with Chase asking about the Family Opportunity Mortgage. &nbsp;They ended the program in mid-January. &nbsp;It is no longer available. Thu, 06 Feb 2014 18:54:00 GMT http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ 2014-02-06T18:54:00Z I have closed a Family Opportunity ... http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ I have closed a Family Opportunity Mortgage with 5% down for elderly parents. Yes it can be done! Mon, 06 Jan 2014 14:50:00 GMT http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ 2014-01-06T14:50:00Z We are in a small town and ... http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ We are in a small town and we have found some local "small town" banks have more flexibility. Thu, 12 Dec 2013 13:48:00 GMT http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ 2013-12-12T13:48:00Z Chase still offers the Family ... http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ Chase still offers the Family Opportunity Mortgage and you can put 5% down on a single-family or condo.<br/> Thu, 12 Dec 2013 13:41:00 GMT http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ 2013-12-12T13:41:00Z Can this loan program be ... http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ Can this loan program be done as a 5% down conventional ? Thu, 12 Dec 2013 02:31:00 GMT http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ 2013-12-12T02:31:00Z @Vernon:But the Realtor told ... http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ @Vernon:<br/><br/><strong>But the Realtor told me that the interest rate is lower than your normal conventional rates..??? Is this true ?<br/><br/></strong>No. <strong><br/><br/>But I am being told it is the interest rate that is the benefit to the borrower..</strong><br/><br/>It is, it is because they do not have to finance as an investment property. Maybe the Realtor should place the loan with the Lender feeding them this misinformation, would be interesting to see their quote at 3.5% without 5 discount points..... Tue, 26 Nov 2013 13:58:00 GMT http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ 2013-11-26T13:58:00Z I had an iquiry about this ... http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ I had an iquiry about this loan yesterday.. The realtor asked if we offer the program and to be quite honest I had never heard of it. I have been doing as much research as possible but in my scenario they have 20% down and will be primary residence etc. They don't own any other homes etc. But the Realtor told me that the interest rate is lower than your normal conventional rates..??? Is this true ?<br/>My first thought was do just do a normal conventional loan with 20% down. But I am being told it is the interest rate that is the benefit to the borrower..<br/>Can someone that knows this program let me know if this is the case ?<br/><br/>Appreciated.. Mon, 25 Nov 2013 18:09:00 GMT http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ 2013-11-25T18:09:00Z Chase is the only company ... http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ Chase is the only company I know still offering any sort of "Family Opportunity" mortgage, which lets you buy another home for your college student or elderly parents - both of whom would not qualify on their own. <br/><br/>THERE IS NO DISTANCE REQUIREMENT...&nbsp; There actually isn't on standard second homes either.&nbsp; Many people say 50 miles, but that is not true... The rules requires a "does it make sense" that it is a logical second home location.<br/><br/>The loan is treated like a second home... so you get the standard versus investment property interest rates Fri, 01 Nov 2013 16:00:00 GMT http://www.zillow.com/advice-thread/Family-Opportunity-Mortgage-in-2013/506341/ 2013-11-01T16:00:00Z