DEAR BOB: My son and daughter-in-law rent an apartment in a great community. They both have good jobs. But they have zero savings for a home down payment. I'm not in a financial position to help them with a down payment. With the high cost of houses where they live, is there any way they can ever buy their own home? – Bill P. DEAR BILL: Yes. Before looking at homes, your son and daughter-in-law should first get pre-approved in writing by an actual mortgage lender, such as a bank or mortgage banker. A mortgage broker can arrange such a pre-approval, but a mortgage broker's "pre-qualification" is worthless because he is not the money source. Purchase Bob Bruss reports online. If your son and daughter-in-law lack a cash down payment, that shouldn't stop them if they have decent FICO ...
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