Review Mortgage Lenders

Family First Mortgage

First Family Mortgage Can Save You Money

Conrad Thompson with First Family Mortgage can save you money. Call 425-0105 in the Huntsville, AL area.

The £120K homes first-time buyers can afford WITHOUT putting down a deposit

YOU won't need to borrow money from the Bank of Mum and Dad but you'll still need the support of your parents

First-time buyers take out a 90 per cent loan to value mortgage, with the 10 per cent deposit secured against mum and dad's home - as long as they're already mortgage free. Rates start at 4.89 per cent for a five-year fixed deal. Buyers will then make two separate repayments for the first five years of the deal - their own mortgage payments and one towards the "assistor's mortgage" which is interest free. For example, if you took out a mortgage worth £121,500 over 30 years at 4.89 per cent, your monthly repayments for the first five years would be £644 a month, including the deposit loan. Once the loan is paid off after five years, your payment will drop to £619 a month - a reduction of £25.

This father wants his daughter to co-sign on a $300000 mortgage — what should she do?

Dear Moneyist,

My only daughter was asked by her father to co-sign a mortgage of $300,000 for 30 years on his home so he has enough to live on. The house is worth over $2 million, but it’s in a state of disrepair. It still carries a $66,000 mortgage. Her father remarried a few years back and has other debts of unknown amounts.

He is 68 years old and has received Social Security and has health issues. He told my daughter that he has a living trust set up to leave the house to her. This is too big a loan amount for anyone to co-sign even though my daughter is making a six-figure income. She’s not married yet and would like to buy her own home soon.

Don’t miss: My sister took care of our mother for 10 years — shouldn’t she be entitled to her house?

How much responsibility does a child have to a parent who has spending problem? Regardless of when the living trust was created, how can my daughter be sure that the living trust won’t get modified during his second marriage? My daughter’s stepmom is relying on him.

Can a family member leave another family member a house with a 1st mortgage still on it in their will?

my mom has a home that she is still paying her first mortgage on, she says that if she passes away she wants to leave me the house in her will so that I would keep it in the family. Would the bank allow that to happen?

The bank would need to be paid off in full before you get the house. You cannot take over another person's mortgage.