Buying for Parents

[Hilde M. L.]

Hello fellow BP fans,

Happy holiday weekend!

Parents will not qualify for a loan so we would like to buy home for them. 

If they are listed as owners or co-owners, loan guaranteed/signed by my husband and myself - will loan qualify for 3.5 % down? What's the lowest possible down-payment?

The home is only 60 miles from my current primary home so it doesn't qualify as a second home for financing purposes. My husband and myself will live there part-time as we help take care of my developmentally disabled sister and it's actually closer to both our jobs.

Thanks so much.