Seeking Advice on Deed Arrangements as a coborrower for parents

[Fateh Ahmad]

Hey BiggerPockets community,

I hope you're all doing well! I'm reaching out for guidance as I embark on purchasing a new home for my parents. Here's a bit about my situation:

Last year, I bought my current house, and now I'm looking to help my parents secure a home of their own. Initially, I considered the Family Opportunity Mortgage, but my loan officer suggested the FHA route(for DTI reasons), with my mom as the primary borrower and me as a co-borrower.

The plan is for my parents to be on the deed, allowing me to maintain the homestead on both my current house and the new one, given that they'll be the primary occupants. However, I want to structure the deed in a way that ensures the property eventually passes to me and gives me the flexibility to remove my parents from the deed if the need arises in the future.

I'd appreciate any advice or insights from the community on the best way to navigate this situation. Has anyone else been in a similar position or have recommendations on how to set up the deed for a smooth transition of ownership?

Thanks