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Query about home loan
if the property owner is father then son want to home loan on his behalf it's possible??
Replies (4)
Quick Summary
Yes it's possible if father agree to be co applicant for such loan, 2nd thing home loan calls purchasing first time house, if home is already owned then there would be mortgage loan and it is subject to financial profile of applicant also.
It sure is, just make sure you find the right people to discuss the process with.
Yes, the son will be able to do that. The loan on the house will be less than the full loan balance, or 95% of the appraised value, depending on which one is less.
Yes, the son will be able to do that. The loan on the house will be less than the full loan balance, or 95% of the appraised value, depending on which one is less. But I also heard that there might be issues with family-related loans and transactions.
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