Now Offering Family Opportunity Mortgage

St. Louis, Missouri – November 19th, 2021 – Gershman Mortgage, a leader in the mortgage industry, has recently announced a new Family Opportunity Program for borrowers. If you have an elderly parent or an adult disabled child you wish to purchase a home for, the Family Opportunity Program may be a good fit for you..

Under typical lending guidelines, you must pay higher interest rates and make a significant down payment to buy a home that won’t be your primary residence. But the Family Opportunity Program lets borrowers buy a home for an elderly parent or an adult child with a disability at “owner-occupied” rates and guidelines even if they don’t plan to live there.

This type of program is designed for parents of an adult child who is mentally or physically disabled and doesn’t have the income to qualify on their own, or children of elderly parents who do not have sufficient income to qualify for a mortgage. It allows borrowers to place their loved ones in a secure home that they own, and at a lower cost.

In order to qualify for this type of loan, borrowers need:

• A 620+ credit score
• Automated underwriting approval for debt-to income (DTI)
• Steady employment
• Enough income to support your current housing costs plus the additional expenses of owning another home

Do you think the Family Opportunity Program is a good fit for you? Contact a Gershman Mortgage Loan Officer today!

This is for informational purposes only and not an offer to lend or extend credit. Subject to credit and income approval. Terms and conditions are subject to prior notice.

About Gershman: Communities, families, and homes are at the heart of what we do at Gershman Mortgage.  Our founding principles are based on the core values of honesty, integrity, the entrepreneurial spirit, and putting our customers first.  We are passionate and committed to customer service and strive to ensure that we exceed the expectations of our customers.  We are a customer-centric company devoted to creating and maintaining long-lasting relationships.

NMLS #138063 16253 Swingley Ridge Road Suite 400 Chesterfield, MO 63017 (800) 457-2357 Equal Housing Lender.