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National Family Mortgage ®
Thank you for your interest in National Family Mortgage ®.
To better serve our clients, and pass on greater savings to everyone, please be sure to download the appropriate, free Family Mortgage Guide.
Our detailed Family Mortgage Guides are designed to answer all of your questions.
Kindly review our company Standards, found on Page 5 of every Family Mortgage Guide, to determine if your specific situation meets our requirements.
Before we continue, have you had an opportunity to review the appropriate Family Mortgage Guide?Okay! Since you haven’t had time to review our Family Mortgage Guide, let’s get a sense for if we’re the right fit. The following 9 questions can usually determine if we’re a potential solution!
1. I am interested in learning more about National Family Mortgage ® regarding a private mortgage loan transaction to help someone:Well that saved us all a lot of time! National Family Mortgage ® only supports three situations:
- Helping an immediate family member purchase a home
- Selling a home to an immediate family member
- Helping a family member leverage home equity through a family-funded reverse mortgage
We don’t support mortgage refinances, construction loans, personal loans, student loans, or business loans. We suggest contacting a local attorney for help, or try visiting another legal document website, like Nolo.com.
Good luck!
Great! So far, so good!
2. The Borrower’s subject property is located in what state?Oh, no! Unfortunately, due to various state restrictions, we’re unable to support any loans in your state.
Please contact a local attorney, and hopefully, they will be able to assist you.
Good luck!
This is looking promising! You’re on the right track!
3. My private mortgage loan transaction:Rats! Unfortunately, it looks like we’re not going to be able to help you.
First, for various legal and liability reasons, we can’t help formalize a transaction that’s already happened. There’s no way around this.
Additionally, we need between two to three weeks between your Setup Form submission and the loan issue date, in order to coordinate a smooth transaction that meets your deadline.
Please contact a local attorney, and hopefully, they will be able to assist you.
Good luck!
Terrific! If this works out, we should have plenty of time to help you.
4. I am considering a private mortgage loan with my:Darn! Unfortunately, it looks like we’re not going to be able to help you.
Due to various state/federal limitations, we only facilitate loans between family members as defined below, (and in some states, as explained in our Free Guide, even this is limited!):
Grandparent <> Grandchild
Parent <> Child
Sibling <> Sibling
Aunt/Uncle <> Nephew/Niece
Please contact a local attorney, and hopefully, they will be able to assist you.
Good luck!
Great! We’re all about keeping money in the family!
5. All Lenders and Borrowers are US residents, with US Social Security Numbers and/or Tax ID Numbers, who pay US taxes.Darn! Unfortunately, it looks like we’re not going to be able to help you.
Due to various state/federal limitations, all Lenders and Borrowers must be US residents, with US Social Security Numbers and/or Tax ID Numbers, who pay US taxes.
Please contact a local attorney, and hopefully, they will be able to assist you.
Good luck!
Awesome! You’re more than half way through this questionnaire!
6. My private mortgage loan will be made by, or made to:You’re sophisticated! Unfortunately, it looks like we’re not going to be able to help you.
Due to various state/federal limitations, we only support mortgage loans between family members, as individuals, or when qualified family members are serving as Trustees of a Trust.
We do not facilitate loans to or from family owned FPs, FLPs, LLCs, LPs, LLPs, PLLCs, S-Corps, Land Trusts, Life Estates, or Self-Directed IRAs.
FYI – It’s also our understanding the IRS prohibits Self-Directed IRA investments with Parents or Children anyway.
Please contact a local attorney, and hopefully, they will be able to provide you with more information.
Good luck!
You’re on a roll! Let’s keep it going!
7. Does the Lender intend to co-own the subject property with the Borrower?You were so close! Unfortunately, it looks like we’re not going to be able to help you.
In short, if the Lender intends to be on the property Deed / Title with the Borrower, the Lender can’t place a lien on real estate they co-own.
In theory, it’s possible if the property is Deeded as Tenants in Common, but this makes for a very sophisticated, unusual transaction, that’s way outside of our comfort zone.
Please contact a local attorney, and hopefully, they will be able to help you.
Good luck!
Only two questions left! You’re almost done!
8. The Borrower’s property that will secure the private mortgage loan can best be described as:You were so close!!! Unfortunately, it looks like we’re not going to be able to help you.
We’re only able to support Family Mortgage loans secured by relatively traditional single-family homes, condominiums, or townhomes located in the USA.
Everything else is too tricky, and frankly, not very common. Your transaction is simply outside of our comfort zone.
Please contact a local attorney, and hopefully, they will be able to help you.
Good luck!
You’ve reached the final question! We’re really hoping we can help you!
9. The Borrower’s property that will secure the private mortgage loan is currently:You were so close!!! Unfortunately, it looks like we’re not going to be able to help you.
When it comes to Family Mortgages, Foreclosure transactions, Bank Owned transactions, Short Sale transactions, and Corporate Relocation transactions can be extremely tricky, and frankly, are not very common. Your transaction is simply outside of our comfort zone.
Please contact a local attorney, and hopefully, they will be able to help you.
Good luck!