The Family Opportunity Mortgage
Unlocking Homeownership: Supporting Loved Ones with the Family Opportunity Mortgage Program For many, the dream of homeownership remains a significant milestone. But what if you could help a close family member achieve that dream, even if they face financial hurdles? The Family Opportunity Mortgage Program, often referred to as the Family Assist Program, is a... Read More
Is That Dream Home in a Flood Zone?
Is That Dream Home in a Flood Zone? How to Use FEMA Maps to Find Out Finding the perfect property can be an exciting journey, but before you fall in love with a place, it's crucial to understand its potential risks. One significant factor to consider is whether the property lies within a designated flood... Read More
2025 MSHDA Income and Sales Price Limits
Important Update: 2025 MSHDA Income and Sales Price Limits - Effective May 1st! Michigan homebuyers, take note! The Michigan State Housing Development Authority (MSHDA) has announced the 2025 income and sales price limits for its MI Home Loan and Mortgage Credit Certificate (MCC) programs. These new limits, effective for new registrations as of May 1,... Read More
Unlock Your Dream Home: The Power of VA Renovation Loans
For veterans and active-duty military personnel, the dream of homeownership often comes with unique considerations. Finding the perfect home that meets all your needs and preferences can sometimes feel like a challenge, especially when inventory is tight. But what if you could purchase a home with untapped potential and tailor it to your exact specifications,... Read More
Shifting Tides: Analyzing Recent Trends in the Kalamazoo Real Estate Market
The real estate market is constantly evolving, and understanding current trends is crucial for both buyers and sellers. Let's delve into some recent data to gain insights into the current state of the market. Residential Market: A Slight Slowdown New Listings and Sales: We're seeing a slight dip (-3%) in both new listings and homes... Read More
Breathing New Life into Homes: A Conversation with Jeremy Drobeck and Contractor Ramon Huerta
In our latest video, we sat down with Jeremy Drobeck, a Loan Officer at Treadstone Mortgage, and Ramon Huerta, a local contractor, to discuss the exciting possibilities of renovation financing. We explored how these loans can help homeowners breathe new life into older homes and how the process works. The Power of Renovation Loans Renovation... Read More
Homeownership Special: MSHDA Maximum Sales Price Limit Increase Incoming!!
Exciting news for Michigan homebuyers! The State Senate has passed House Bill 5032, which will significantly increase the maximum sales price limit for MSHDA home loan programs. What Does This Mean? Currently, MSHDA's maximum sales price limit for eligible homes is $224,500. This limit has remained unchanged since 2009, making it increasingly difficult for many... Read More
VA Renovation Loans: A Veteran’s Dream
Are you a veteran looking to purchase a home that needs a little TLC? The VA Renovation Loan program is designed to help you finance both the purchase and renovation costs in a single loan. Why Choose a VA Renovation Loan? Flexible Financing: The VA Renovation Loan offers a streamlined process to finance both the... Read More
The Evolving Real Estate Market: From Seller’s Market to Level Playing Field
The real estate market has seen dramatic shifts in recent years, transitioning from a seller's market during the pandemic to a more balanced landscape. As we move forward, understanding these changes is crucial for both buyers and sellers. The Pandemic Boom: During the pandemic, the real estate market experienced unprecedented demand. Low-interest rates and remote... Read More
Changes to FHA 203K Renovation Loans
Exciting Changes to FHA 203(k) Renovation Loans: Effective November 4, 2024! Get Ready to Unlock More Potential We're thrilled to announce some significant updates to the FHA 203(k) renovation loan program that will take effect on November 4, 2024. These changes are designed to make homeownership more accessible and empower you to transform your dream... Read More
Latest Blog Post
The Family Opportunity Mortgage
Unlocking Homeownership: Supporting Loved Ones with the Family Opportunity Mortgage Program
For many, the dream of homeownership remains a significant milestone. But what if you could help a close family member achieve that dream, even if they face financial hurdles? The Family Opportunity Mortgage Program, often referred to as the Family Assist Program, is a specialized mortgage solution designed to do just that – empower families to support loved ones in purchasing a home.
What is the Family Opportunity Mortgage Program?
This unique program was created to address a common challenge: families who want to assist elderly parents, adult children with disabilities, or other qualifying relatives in buying a home, but where the assisting family member might not be able to occupy the home themselves, or where the assisted family member faces challenges meeting traditional mortgage qualifications alone. It essentially allows family members to secure financing for a loved one’s primary residence, often with more favorable terms than a standard investment property loan.
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