A Better Way to Buy for Parents & Children: The Homeownership Solution

When Sarah came to Amber, she was desperate to find a housing solution for her mother, Linda. Linda had been renting for years in the same town where Sarah and her family lived, cherishing every moment with her grandkids. But with rent climbing higher every year, her fixed income couldn’t keep up. Moving in with Sarah wasn’t an option—Linda valued her independence, and Sarah’s home simply didn’t have the space.

Sarah had looked into buying a home for her mom, but every option seemed out of reach. The steep down payments and high interest rates on homes that Sarah wouldn’t live in herself (a non-owner occupied home) made it feel impossible. That’s when Amber Holup, Realtor at The Holup-Niewinski Group of HomeSmart Realty, stepped in.
Drawing on her expertise, Amber introduced Sarah to a special mortgage program designed for families like hers—where a parent or an adult child with a disability could qualify for more favorable terms, rather than being treated as an investor. With Amber guiding the way, Sarah and her husband were able to purchase a cozy condo for Sarah’s mom to live in, just minutes from their home.
Now, Linda has the security of homeownership without the fear of rising rent or losing her lease. She’s close enough to remain an active part of her grandchildren’s lives while still maintaining the independence she loves. And thanks to Amber, Sarah was able to make it happen without the overwhelming financial burden she initially feared.

Could This Be an Option for Your Family?

Amber has helped families navigate this process before—and she can help you, too. Whether you’re looking for a home for:

• A parent on a fixed income who can’t qualify for a mortgage alone.
• An adult child with a disability who needs a stable housing situation.
• A dependent college student who needs a home near campus.

This program makes it possible to secure housing with owner-occupied terms, rather than investment property requirements, which means lower costs, better rates, and a more accessible path to homeownership.

How It Works

If you’re considering buying a home for a loved one, here’s what’s needed to qualify:
✔️ A credit score of 620 or higher
✔️ A debt-to-income ratio of 45% or less (some exceptions apply)
✔️ Steady employment with enough income to cover both your current home and the new purchase
The person receiving the home must have insufficient income to qualify on their own.

What’s Needed for the Loan Process?

Amber can refer you to a lender who offers this loan program. Typically, applicants need to provide:
📌 Proof of relationship (if last names differ)
📌 The recipient’s proof of income (such as disability benefits or Social Security)
📌 A letter explaining the need for the home purchase
📌 Confirmation that the buyer will retain their primary residence

A Long-Term Investment in Stability

With rent increasing and assisted living costs rising, homeownership can be a life-changing alternative. Instead of worrying about price hikes or landlords selling the property, families can provide a safe, secure, and permanent place for their loved ones. In addition, your loved one may be eligible to receive cost-saving homeownership benefits such as the following property tax exemptions: homeowner, senior, and senior freeze, which in some cases could decrease housing costs by hundreds of dollars per month - this typically wouldn’t be possible if renting.
Amber has already helped families find solutions that give their parents or children a stable home without unnecessary financial strain. If you or someone you know is facing a similar challenge, reach out to Amber Holup today—she’s here to help you navigate the process and find the best path forward.

Amber Holup
IL Licensed Real Estate Broker
The Holup-Niewinski Group, HomeSmart Realty Group of IL 708.870.6835