Want To Buy a Chicago Home for a Loved One? This Family Loan Can Help

By Ressie Krabacher

As a local resident and top performing REALTOR® in Chicago, Ressie Krabacher is relentlessly focused on helping her clients move forward. She serves as an advocate and advisor for buying or selling, overseeing relocation, or adding home ownership to their financial goals.

Have you ever wanted to help your loved ones buy a home in Chicago, but the high costs made it seem impossible? Between large down payments, higher interest rates for investment properties, and strict lending rules, helping families can feel out of reach.

But there’s a little-known solution that lets you buy a home for loved ones as if it were your own, saving you thousands in the process: The Family Opportunity Loan.

It allows you to purchase a home for certain family members while qualifying for the same low rates and down payment terms as a primary residence. So, who exactly can take advantage of this?

Who can use this loan? This program is aimed at buyers helping specific family members secure a home under favorable primary residence terms.

• Adult children purchasing for parents who don’t currently own
• Parents buying for disabled children needing independent housing
• No longer applies to college housing, once covered under “kitty condos”

Why is this loan worth considering? The Family Opportunity Loan removes the financial roadblocks that usually come with buying a home for loved ones, making it both affordable now and valuable for the future.

• Primary residence interest rates let you pay less than typical investment property loans.
• Low down payment requirement keeps upfront costs manageable
• Lower monthly payment rates mean long-term savings
• Faster buying power makes it easier for you to act quickly when the right property becomes available.
• Supports loved ones by providing housing without overextending your budget
• Builds generational wealth and creates lasting financial stability for your family.

In today’s market, where every dollar matters, the Family Opportunity Loan helps remove two big obstacles to helping your family: high interest rates and large down payments. But not all lenders offer this loan, and some might not know how it works well—so it’s important to work with a mortgage expert who does.

If you need guidance on this loan or have any real estate questions, feel free to reach out to Kyle Perks at (614) 582-0415 or kyle.perks@stonehavenmtg.com. You can also contact me anytime for help with buying, selling, or investing at (773) 965-4100 or ressie@kw.com. I’m here to support you every step of the way.