So my father in law just bought a house and offered to sell his current home to us for what he owes. The house appraised for around 300k and he owes 180k.
In this situation what would the best type of mortgage be?
Would we still need 20% down to avoid the PMI?
Would this qualify for a first time home buyer type of loan?
We are noobs when it comes to this stuff so any and all advice would be greatly appreciated.
Thank you!
Submitted November 10, 2018 at 09:38PM by manwith6fingers https://ift.tt/2PSb8B5
