While discussing my new site with a co-worker, we conceived of an interesting angle on the 0 down home loans phenomenon. One way to avoid closing costs and down payments is to keep it in the family. I know in many ways this idea will almost seem like it shouldn’t count, but to be honest, I think it is something more families should consider and deliberate when they plan for the long term.
Keeping in the family helps you achieve almost the equivalent of no doc mortgage loans, no money down home mortgages and shared ownership mortgages (or shared ownership properties) all without the usual bureaucratic wrangling.
There are many more benefits to multi-generational homes, but instead of expanding on it myself, I thought you might enjoy this good Coldwell Banker video I found on YouTube discussing the matter. I’ve written some pretty long articles on this site already so I thought I might give your reading eyes a rest.
I hope that helps you open your eyes to the possible advantages of keeping it in the family, so to speak. Thank you for visiting 0 Down Home Loans.