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Updated over 4 years ago,
Buying retired mom a home?
Hey everyone!
I have what might be an odd question, but a real estate friend has advised me to try this and I thought I would get some expert opinions here!
Would my retired mother,(65 and mobile lol) living off social security and 401k savings be able to get a home loan?
She has never owned a home, but her credit is really good (750?) . She wouldn't be able to afford much monthly on her own, but I could help her. Would it make sense for me to be on the loan/deed?
Trying to get her something now, that I can help to get her to be able to rent out/sell for future retirement funds. Basically a win win for building our portfolio long term and giving her a place to call real home before she's too old to be able to enjoy it.
Thanks everyone
Tim