Looking to purchase home for Mom and refi into her name?

Question

Looking to purchase a home for my mom to live in where she can also rent out extra rooms. She won't qualify for a loan at this time, and we would most likely split the downpayment. Are there any options to later refi and transfer the house into her name?

Jim Blackburn · Answer

Yes. You buy now as second home (if 100 miles from your home) investment if not... Work on your mothers credit for two years.. Then she can refinance the note into her name.

Joe Abughazaleh · Answer

Hi @Gala Klein based on the information given you should be able to refi as long as your mother can qualify in the future for a loan and there's equity. Keep in mind interest rates will continue to rise based on the Federal Reserves recent comments just something to keep in mind.

Looking to purchase home for Mom and refi into her name?

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