This way you can make payments to your family lender at
a more flexible payment schedule and pay lower or no interest.
Not exact matches
HELOCs function as a second mortgage, with the borrower withdrawing and repaying funds on a
more flexible schedule, and the government allowing a tax deduction for interest
payments.
This will imply better loan conditions for you like a lower monthly
payment, lower interests,
more flexible repayment
schedules, forbearances, grace periods, no prepayment penalty fees, etc..
FHA mortgages have
flexible payment schedules and
more inclusive definitions of monthly income, allowing
more borrowers to thus qualify for an FHA loan.