If you're ok with commercial financing that comprises some combination of a higher rate, ARM, balloon payments, etc etc, then dial for dollars until you find a commercial lender that'll go for it, and ask them how it works with them.

Also broke his baby's arm, so child abuse, too.  

https://www.fanniemae.com/content/guide/selling/b2...Here's a summary: Your new loan amount can’t be higher than the total of what you paid for the home, including the purchase price, closing costs, prepaid fees and points.Your original purchase had to have been what’s called an “arm’s length transaction.”

I've been offered a 3/1 ARM at 4.65% with one year adjustments at CMT + 3.75%. 15 year, 65 LTV, 1% fee.

And you say, before making your very first larger monthly payment:I thank you and wish you the best, Good Day.But what the mortgage industry does not realize, explicitly at least, is that you presumably have some plans with that $200k that amount to more than partying in Tahiti, like perhaps investing in some sort of area that allows for highly leveraged asset acquisition.

If you paid cash for the property and the transaction was at arms length, you can do a delayed financing cash out.

That means that he needs to replace the AC and cage if they were both present when you saw the home.Second, he probably (hopefully) has insurance to cover the loss, and that's where he should be looking for payment.However, you can only back out of the deal with proper justification, which will be explicitly stated in your P&S.  

With the HECM loan, it is nearly impossible for anyone to take the home away from you.So with a RM your interest and principle payments add up each month, and become the principle amount due at the time of payment.

As with any tax-sheltered retirement plan, it all has to be managed at arm's length and exclusively for the benefit of the plan.  

Have fun out there and good luck to all my brothers and sister in arms (and REI)!