First Liberty Bank Home Mortgages - Family Opportunity

WHAT IS A FAMILY OPPORTUNITY MORTGAGE?
A Family Opportunity Mortgage Loan offers the ability to finance a home purchase for an aging or elderly family member, an adult child with a disability, or for a relative that lacks the capacity to do so on their own.

WHAT ARE THE ELIGIBILTY REQUIREMENTS OF A FAMILY OPPORTUNITY MORTGAGE?

A credit score of 620 or better.
Debt-to-Income (DTI)* approved by automated underwriting system.
Proof of steady employment and income.
Enough income to support your current housing costs plus additional expenses of owning another home.

*Debt-to-income (DTI) ratio is monthly debt/expenses divided by gross monthly income.

Family Opportunity Loan Program Advantages:

Lower down payment than second home or investment property loans.
Standard owner-occupied mortgage rates.
Borrower does not have to live in the property.
No distance requirements from borrower’s primary residence.

DETAILS
A loan program to help purchase a home for a family member, such as an elderly parent or adult child with a disability, at the rate and down payment as if purchasing for yourself. To learn more, contact a First Liberty Bank mortgage lender in Oklahoma City or Norman.

Certain restrictions apply on all programs. See your First Liberty Bank Loan Officer for complete program guidelines, loan application, applicable fees, and annual percentage rates (APR’s) for all loan programs. Full underwritten approval is required, and all loan approvals are subject to credit, income and asset review and approval.