Head in the clouds or is this real?

I’m posting this for my friend since she doesn’t have Reddit and won’t listen to me that this doesn’t sound right.

My friend is trying to buy a house from her dad. She found a lender and got pre approval. Problem is she doesn’t think that her loan will require underwriting since it’s not a fha loan. The house is in a flood zone, basement always floods badly. It’s a 2 bedroom even though her dad tried to say 3.

She thinks they can get her dad’s friend to do the appraisal and not have the lender pick one. Her dad is gifting her the down payment and closing costs for the loan. He won’t do rent to own because he knows she won’t pay him every month.

She wants to tell her lender that the payments need to be less than $400 a month because she doesn’t want home owners insurance and she doesn’t worry about property taxes. And she’s already trying to move in the house even though they got pre approval 2 days ago and won’t listen when I tell her it doesn’t mean her loan is approved.

I’m going crazy just talking to her since she’s convinced my husband and I brought our house the wrong way. We done a fha and paid our own down payment and closing costs along with the escrow for insurance and taxes.

She swears this is a special type of loan that allows her to not get insurance and no underwriting since she’s buying off family.

submitted by /u/Horribleheadaches
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I’m posting this for my friend since she doesn’t have Reddit and won’t listen to me that this doesn’t sound right. My friend is trying to buy a house from her dad. She found a lender and got pre approval. Problem is she doesn’t think that her loan will require underwriting since it’s not a fha loan. The house is in a flood zone, basement always floods badly. It’s a 2 bedroom even though her dad tried to say 3. She thinks they can get her dad’s friend to do the appraisal and not have the lender pick one. Her dad is gifting her the down payment and closing costs for the loan. He won’t do rent to own because he knows she won’t pay him every month. She wants to tell her lender that the payments need to be less than $400 a month because she doesn’t want home owners insurance and she doesn’t worry about property taxes. And she’s already trying to move in the house even though they got pre approval 2 days ago and won’t listen when I tell her it doesn’t mean her loan is approved. I’m going crazy just talking to her since she’s convinced my husband and I brought our house the wrong way. We done a fha and paid our own down payment and closing costs along with the escrow for insurance and taxes. She swears this is a special type of loan that allows her to not get insurance and no underwriting since she’s buying off family. submitted by /u/Horribleheadaches [link] [comments]

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