Fannie Mae now allows a parent or family member to be added to a home loan to increase the borrower’s qualification. Lenders can used the combined resources of a lesser qualified home buyer and a family member to secure the loan. The family member does not need to live in the home with the buyer. Currently Fannie Mae offers up to 97% financing.
Note, these loans were nicknamed “Kiddie Condo” but are not exclusively for condos.
Aaron Lending, LLC 