Good evening, I'll cut right to the point. I am trying to obtain a mortgage for a 3-family investment property. I do not have enough capital to cover the 25% down, but am grateful my father has offered to cover the additional funds needed. However, the property is already UAG, (my father will purchase if I fail to obtain financing) so I do not have enough time for the gift funds to be seasoned in my bank acc. I am wondering if its possible for my father to obtain a mortgage without a due-on-sale clause, and then quit-claim the title into my name. He would carry the mortgage and ultimately I would pay him the PITI. I understand it is rare for banks to offer loans without these clauses. If this is the case, is it still possible to transfer title (legally and ethically speaking) into my name since I am his son. I've done a bit of research and from what I understand this is allowed because I am his child.
Any feedback provided is much appreciated on my behalf. Thank you. Also, I am not 100% certain if this is the right topic for this post. My apologies to the moderators if so.
