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Family Opportunity Mortgage

A mortgage option designed for unique family situations.

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How Does the Family Opportunity Mortgage Work?

This mortgage option can help people in various circumstances. For instance, the program is relevant when you seek mortgage financing for a disabled adult child or elderly parent The best part about the program is you won't incur the expense associated with purchasing an investment property.

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Family Opportunity Mortgage Benefits

You won’t incur the expense associated with purchasing an investment property
Low down payment requirements
With respect to elderly parents, the Family Opportunity Mortgage is a great option because it allows adult children to help with housing expenses

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Family Opportunity Mortgage Guidelines

The elderly parent or disabled child must be unable to work or not have sufficient income to qualify for a mortgage on their own
There’s no distance requirement on where the primary residence is located
The elderly parent or disabled child does not have to be on the mortgage or title unless they prefer to do so

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Sample Scenarios

Imagine your mother or father (or both) live in a different state, and you need to move them back to Hampton Roads. With the Family Opportunity Mortgage, your parents can live independently while the home, which you own, builds equity.
In another situation, a client purchased a home for his mother. At the time, the mom lived with the client but preferred to have a place to call her own. The Family Opportunity Mortgage allowed the mother to live alone but the child (the client) paid the mortgage.
Here’s one more real-life situation. In North Carolina, a client wanted to buy a home for his mother because the mom was living with a roommate until the roommate moved out. The cost of living became too great.

Bear in mind that, even though you may buy the home for a parent, your parent(s) will need to show documentation to prove they cannot qualify for the mortgage on their own. Those documents include tax returns, social security awards letter, and/or proof of retirement income.

If you plan to buy a home for a relative, it’s critical to know your options. The Family Opportunity Mortgage is a great option when you have unique living circumstances. Be sure to ask your licensed lender when the time comes.

Shikma Rubin, NMLS ID #1114873, is a licensed loan officer with Tidewater Home Funding, LLC. in Chesapeake. She enjoys the chance to lead workshops and webinars on how to buy a home. Have mortgage questions? You can contact her at srubin@tidewaterhomefunding.com or 757-490-4726.

What Our Customers Say About Us

In your journey towards buying a house or refinancing your mortgage, Tidewater Home Funding emerges as your trusted partner. Experience personalized assistance shared around your mortgage needs and support at each phase of the loan process. Being a locally owned mortgage company, we have an understanding of the Hampton Roads, Richmond, and Outer Banks homebuying markets empowering you through the homebuying process. Contact our team today and explore our variety of loan programs.

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4.9

80 reviews

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We had a fantastic experience working with Michelle Phillips at Tidewater Home Funding during our home buying process! From start to finish, Michelle was patient, kind, and incredibly thoughtful. She took the time to explain everything, answered all of ou ...

We had a fantastic experience working with Michelle Phillips at Tidewater Home Funding during our home buying process! From start to finish, Michelle was patient, kind, and incredibly thoughtful. She took the time to explain everything, answered all of our questions, and made sure we felt comfortable every step of the way. Michelle’s communication was excellent—she always kept us in the loop, responded quickly, and made the entire process smooth and stress-free. On top of that, she worked hard to get us the best possible rate, and we truly felt she had our best interests at heart. We’re so thankful to have had Michelle by our side during such an important time. If you’re looking for someone who is knowledgeable, caring, and truly committed to helping you succeed, we highly recommend Michelle Phillips at Tidewater Home Funding!

6 days ago

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Gee and her team were phenomenal every step of the way. Highly recommended.

Gee and her team were phenomenal every step of the way. Highly recommended.

1 week ago

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1 month ago

Posted on Google

Susanna Thomson and the team at Tidewater Home Funding are absolute Professionals and,in my opinion, the best organization in the area. Susanna worked tirelessly with me, a new home buyer, to educate me beyond the basics of home buying to insure I was p ...

Susanna Thomson and the team at Tidewater Home Funding are absolute Professionals and,in my opinion, the best organization in the area. Susanna worked tirelessly with me, a new home buyer, to educate me beyond the basics of home buying to insure I was prepared. I cannot Thank her and Cyndi enough for their help!

1 month ago

Posted on Google

As a new homebuyer, the process was made easy and simple. Michelle was always available if I had a question or needed more information to make a decision. A fantastic home buying experience by far.

As a new homebuyer, the process was made easy and simple. Michelle was always available if I had a question or needed more information to make a decision. A fantastic home buying experience by far.

1 month ago

Posted on Google

We were blessed to work with Susanna Thomson for the purchase of our new home in Virginia. She is knowledgeable and friendly and she always responded swiftly. You won't be disappointed to work with her and Tidewater!

We were blessed to work with Susanna Thomson for the purchase of our new home in Virginia. She is knowledgeable and friendly and she always responded swiftly. You won't be disappointed to work with her and Tidewater!

2 months ago

Posted on Google

2 months ago

Posted on Google

Gee helped us every single step of the way in getting a mortgage for our new home. Any questions we had she was able to answer and in a very timely manner. We could not have asked for a better lender.

Gee helped us every single step of the way in getting a mortgage for our new home. Any questions we had she was able to answer and in a very timely manner. We could not have asked for a better lender.

2 months ago

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Gee was amazing through this whole process. Thank you Gee!!

Gee was amazing through this whole process. Thank you Gee!!

3 months ago

Posted on Google

Gee was absolutely wonderful to work with! She and her Team had everything before we ever requested it. Walked us throught the process and couldn't have been happier with the experience. Thank you again Gee, and Tidewater Home Funding!

Gee was absolutely wonderful to work with! She and her Team had everything before we ever requested it. Walked us throught the process and couldn't have been happier with the experience. Thank you again Gee, and Tidewater Home Funding!

Philip McAlpin Jr.

4 months ago

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Michelle Phillips I love her , Communication, Skills, Hospitality,everything about her was very welcoming and she is very truthful/honest with every question you ask her . And a great god fearing woman she will not point u n the wrong direction.

Michelle Phillips I love her , Communication, Skills, Hospitality,everything about her was very welcoming and she is very truthful/honest with every question you ask her . And a great god fearing woman she will not point u n the wrong direction.

Quayeshaun Hamilton

8 months ago

Posted on Google

Shikma Rubin did an outstanding job with our son on the purchase of his first home. We could not have done it without her. She was willing to explain everything in detail as the process went along. Thank you for being both professional and kind!

Shikma Rubin did an outstanding job with our son on the purchase of his first home. We could not have done it without her. She was willing to explain everything in detail as the process went along. Thank you for being both professional and kind!

8 months ago

Posted on Google

Michelle at Tidewater Home Funding is amazing. I cannot say enough wonderful things about her. She was there for me from the moment I called her. I was a first-time homebuyer, and she answered all my questions quickly and thoroughly. She made me feel ...

Michelle at Tidewater Home Funding is amazing. I cannot say enough wonderful things about her. She was there for me from the moment I called her. I was a first-time homebuyer, and she answered all my questions quickly and thoroughly. She made me feel comfortable with the process and protected by her and her awesome team. Even after I closed on the home, Michelle was still there, answering any questions I had. She is super responsive and knowledgeable. I do not think I would have had the wonderful experience I had, if it were not for her and our amazing realtor. Please, if you are buying a home, reach out to Michelle, you will not regret it.

1 year ago

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Michelle has been very helpful and transparent and supportive to us in our home application and buying. Highly recommend her! :)

Michelle has been very helpful and transparent and supportive to us in our home application and buying. Highly recommend her! :)

Ryan Buttacavoli

1 year ago

Posted on Google

Susanna Thompson was very easy to work with. She was very prompt with communication and patient.

Susanna Thompson was very easy to work with. She was very prompt with communication and patient.

Casey Shalkowski

1 year ago

Posted on Google

Guided me through the process and secured a loan for my families dream home. What more could you ask for?

Guided me through the process and secured a loan for my families dream home. What more could you ask for?

1 year ago

Posted on Google

She is amazing and explains everything and has great communication. All around 5 stars

She is amazing and explains everything and has great communication. All around 5 stars

3 years ago

Posted on Google

Michelle made our whole home financing process so easy and worry free. My husband and I could t have gotten through selling one house and buying our new one without her. I would 100% recommend her to anyone.

Michelle made our whole home financing process so easy and worry free. My husband and I could t have gotten through selling one house and buying our new one without her. I would 100% recommend her to anyone.

3 years ago

Posted on Google

Michelle was great in the process of purchasing our home! I couldn’t have asked for a better lender! Thanks Michelle for always being on top of everything!

Michelle was great in the process of purchasing our home! I couldn’t have asked for a better lender! Thanks Michelle for always being on top of everything!

3 years ago

Posted on Google

Michelle went above and beyond! She was always quick to answer emails/phone calls and made the entire process seamless and stress-free!! We will be repeat customers!

Michelle went above and beyond! She was always quick to answer emails/phone calls and made the entire process seamless and stress-free!! We will be repeat customers!

3 years ago

Posted on Google

Helpful

Helpful

NitroTheChamp Zach

3 years ago

Posted on Google

Love Michelle! So helpful & quick to respond to any questions you may have.

Love Michelle! So helpful & quick to respond to any questions you may have.

3 years ago

Posted on Google

4 years ago

Posted on Google

If you are even thinking about purchasing a home, please contact Michelle Greene Phillips (Licensed Senior Mortgage Loan Officer) to get your pre-approval to start (but she stay with you until you go to the closing table and even after) and yes she go abo ...

If you are even thinking about purchasing a home, please contact Michelle Greene Phillips (Licensed Senior Mortgage Loan Officer) to get your pre-approval to start (but she stay with you until you go to the closing table and even after) and yes she go above and beyond to help you get the best rates for everything, answer your millions of questions, answers your phone calls when you stressed out and need to be calmed down even if she in the middle of dinner with her family! We have absolutely NO regrets from working with her and now she is the ONLY one we will do business with or refer family or friends too!

4 years ago

Posted on Google

Deb Olmstead was an absolute gem to work with. She was on the ball and always kept us updated. We would highly recommend Deb to anyone.

Deb Olmstead was an absolute gem to work with. She was on the ball and always kept us updated. We would highly recommend Deb to anyone.

Corah Michelini

4 years ago

Posted on Google

I absolutely enjoyed my time working with Michelle Phillips. She never missed a text or phone call. She answered all my questions and assisted me in all aspects of purchasing my first home. Even when I had home owners insurance questions after I bought my ...

I absolutely enjoyed my time working with Michelle Phillips. She never missed a text or phone call. She answered all my questions and assisted me in all aspects of purchasing my first home. Even when I had home owners insurance questions after I bought my house, she was only a text message away. If you’d like a smooth home buying experience I recommend working with Michelle.

4 years ago

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Beatrice Luther

4 years ago

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This was a learning experience for both my husband and I. We appreciate all the hard work Michelle and her team did for us. Although at times, it was stressful, we appreciate everything; especially the financial advice about homebuying. Thank you again ...

This was a learning experience for both my husband and I. We appreciate all the hard work Michelle and her team did for us. Although at times, it was stressful, we appreciate everything; especially the financial advice about homebuying. Thank you again. We love our new home and we are in the process of still unpacking and trying to decorate. It feels good to wake up to being a homeowner, not a renter. This gives us joy and happiness.

4 years ago

Posted on Google

Great service and communication. My husband and I have worked with them twice and both times we have been grateful for their hardwork. They are more than willing to answer all of the questions we had and always kept us updated. Would definitely recommend!

Great service and communication. My husband and I have worked with them twice and both times we have been grateful for their hardwork. They are more than willing to answer all of the questions we had and always kept us updated. Would definitely recommend!

4 years ago

Posted on Google

4 years ago

Posted on Google

We couldn’t have asked for a better experience purchasing our home , Michelle Phillips and Emily Sherman are the best at what they do! Our agent was also impressed with how fast and responsive they where . Thank you both for making this a reality for us a ...

We couldn’t have asked for a better experience purchasing our home , Michelle Phillips and Emily Sherman are the best at what they do! Our agent was also impressed with how fast and responsive they where . Thank you both for making this a reality for us after 13 years of renting

4 years ago

Posted on Google

This is my second time dealing with Tidewater with Michelle Phillip, and she is the best. She helped my family purchase our first home and she made the process extremely easy and worked with my schedule. I also recently refinance my home and went through ...

This is my second time dealing with Tidewater with Michelle Phillip, and she is the best. She helped my family purchase our first home and she made the process extremely easy and worked with my schedule. I also recently refinance my home and went through Michelle again, and she again did a great job. She helps you the best she can and tries to look for the best option for you. Highly recommend!

Christian Paulino

4 years ago

Posted on Google

Michelle Phillips with Tidewater Funding was amazing! She is very knowledgeable and was very supportive throughout the whole process. She goes above and beyond for her clients and I highly recommend her for all your mortgage needs.

Michelle Phillips with Tidewater Funding was amazing! She is very knowledgeable and was very supportive throughout the whole process. She goes above and beyond for her clients and I highly recommend her for all your mortgage needs.

4 years ago

Posted on Google

Tide Water Funding made me home buying journey as easy and smooth as possible. They guided me through the whole journey, taking the stress away from the loan process. I highly recommend this company to any one looking for a legit and easy to work with loa ...

Tide Water Funding made me home buying journey as easy and smooth as possible. They guided me through the whole journey, taking the stress away from the loan process. I highly recommend this company to any one looking for a legit and easy to work with loan company. Special shout out to Michelle Phillips for being so easy to work with and always staying in touch with me to help me out. She was also very honest and helped have realistic expectations on what i could afford or couldn't afford.

4 years ago

Posted on Google

Michelle did such an amazing job making sure our first home buying process was as smooth as possible. Michelle made sure to thoroughly explain everything in a way I understood. My husband and I are very grateful we got set up with her, and her years of ex ...

Michelle did such an amazing job making sure our first home buying process was as smooth as possible. Michelle made sure to thoroughly explain everything in a way I understood. My husband and I are very grateful we got set up with her, and her years of experience. Would highly recommend!

4 years ago

Posted on Google

Michelle Phillips was awesome to work with. She went out of her way to help find me loans and grants to save thousands of dollars and I could not thank her enough. Michelle responds very quick. She explained everything in a way more simple way so that I c ...

Michelle Phillips was awesome to work with. She went out of her way to help find me loans and grants to save thousands of dollars and I could not thank her enough. Michelle responds very quick. She explained everything in a way more simple way so that I could understand. She is very genuine and does GREAT at what she does! I was so lucky to be able to work with her.

4 years ago

Posted on Google

We had the pleasure of working with Colby Raymond to obtain a mortgage loan for our first home. She was great at explaining the different advantages or disadvantages of the types of loans we qualified for. More importantly, if not for her, we would have b ...

We had the pleasure of working with Colby Raymond to obtain a mortgage loan for our first home. She was great at explaining the different advantages or disadvantages of the types of loans we qualified for. More importantly, if not for her, we would have been essentially "scammed" out of $11k by our realtor who was trying to have us borrow money from family to bring to closing- not for the purpose of making the sale, but to increase her commission. She literally saved us 11 grand just by being attentive and good at her job.

4 years ago

Posted on Google

Michelle Phillips took the time to explain all my loan options in full detail, as a first time home buyer. She outlined the steps for me so I could prepare in advance, and guided me along the process until closing. I'm grateful for her assistance. Thank y ...

Michelle Phillips took the time to explain all my loan options in full detail, as a first time home buyer. She outlined the steps for me so I could prepare in advance, and guided me along the process until closing. I'm grateful for her assistance. Thank you Michelle, I'm very appreciative! L. Sanders

4 years ago

Posted on Google

This group is extremely knowledgeable and helped me through every step of my loan process while buying my first home. Everything went smoothly and I highly recommend them!

This group is extremely knowledgeable and helped me through every step of my loan process while buying my first home. Everything went smoothly and I highly recommend them!

4 years ago

Posted on Google

Michelle Phillips was excellent from start to finish ! Always professional yet warm and friendly. Communication response time was almost immediate.

Michelle Phillips was excellent from start to finish ! Always professional yet warm and friendly. Communication response time was almost immediate.

4 years ago

Posted on Google

I am so thankful to have worked with Michelle Phillips in securing the loan for my first home! She has been such a valuable resource not only during, but even after closing on my home. She walked me through the process step by step and was always availabl ...

I am so thankful to have worked with Michelle Phillips in securing the loan for my first home! She has been such a valuable resource not only during, but even after closing on my home. She walked me through the process step by step and was always available to answer my questions and ease my concerns. Thank you again for making this such a smooth experience for me!

Elizabeth Zwisler

4 years ago

Posted on Google

We worked with Lori and had an amazing experience. She was able to answer all of our questions with expert experience. Something that has always bugged me is when people treat you like a number instead of a person with real needs. Lori made sure we were t ...

We worked with Lori and had an amazing experience. She was able to answer all of our questions with expert experience. Something that has always bugged me is when people treat you like a number instead of a person with real needs. Lori made sure we were taken care of and understood every step of the way. Thank you Lori

4 years ago

Posted on Google

Michelle Phillips and the team at Tidewater Home Funding make you their priority. They are professional, efficient, communicative and LOCAL! We actually ended up switching from the bank we usually use to Tidewater Home Funding because the bank's loan dep ...

Michelle Phillips and the team at Tidewater Home Funding make you their priority. They are professional, efficient, communicative and LOCAL! We actually ended up switching from the bank we usually use to Tidewater Home Funding because the bank's loan department was too big to get our closing done on time. I would use this company again and recommend them to my family.

4 years ago

Posted on Google

I cannot thank Michelle Phillips, and the folks at Tidewater Home Funding enough for everything they’ve done throughout the home buying process. I was a first time homebuyer and Michelle made the mortgage process easy and ALWAS had my back! She guided me ...

I cannot thank Michelle Phillips, and the folks at Tidewater Home Funding enough for everything they’ve done throughout the home buying process. I was a first time homebuyer and Michelle made the mortgage process easy and ALWAS had my back! She guided me through the process, reassured me when I was nervous, and never made me feel like I was a bother or asking a stupid question. I cannot recommend her highly enough!! If you are looking to get a mortgage or refinance - you absolutely need to contact Tidewater Home Funding, and ask for Michelle!

4 years ago

Posted on Google

We recently refinanced with Tidewater Home Funding. Our advisor was Madison McCutcheon. She made the process easy and quick. She was very responsive to emails and calls and provided excellent customer service during and beyond the refinance. I would h ...

We recently refinanced with Tidewater Home Funding. Our advisor was Madison McCutcheon. She made the process easy and quick. She was very responsive to emails and calls and provided excellent customer service during and beyond the refinance. I would highly recommend THF and Madison.

5 years ago

Posted on Google

Michelle Phillips made the process of buying a home easy for me. Now with COVID-19 almost everything was done via Doc you sign. Michelle kept in constant contact with me and guided me throughout the whole process. Being a first time home buyer can be frus ...

Michelle Phillips made the process of buying a home easy for me. Now with COVID-19 almost everything was done via Doc you sign. Michelle kept in constant contact with me and guided me throughout the whole process. Being a first time home buyer can be frustrating at times but Michelle was right there like I said guiding me through the whole process. Her professionalism is unmatched and at the end felt like family. If I ever need another loan I will be contacting Michelle Phillips. The best!

5 years ago

Posted on Google

Michelle helped make the home buying process stress free. She was extremely helpful in the whole process, from getting pre-approved all the way to closing. Always willing to answer all my questions at any time of the day.

Michelle helped make the home buying process stress free. She was extremely helpful in the whole process, from getting pre-approved all the way to closing. Always willing to answer all my questions at any time of the day.

Michael Thomson

5 years ago

Posted on Google

Tidewater was the absolute best. Michelle Phillips and the whole team worked tirelessly to help my family in buying a home. I would recommend 10 times over. I cannot say enough how supportive their were and genuine.

Tidewater was the absolute best. Michelle Phillips and the whole team worked tirelessly to help my family in buying a home. I would recommend 10 times over. I cannot say enough how supportive their were and genuine.

5 years ago

Posted on Google

My fiance and I had a wonderful experience working with Tidewater Home Funding to purchase our first home! We worked closely with Michelle Phillips, who do an amazing job getting all of our paperwork processed and in order for our close date. She was also ...

My fiance and I had a wonderful experience working with Tidewater Home Funding to purchase our first home! We worked closely with Michelle Phillips, who do an amazing job getting all of our paperwork processed and in order for our close date. She was also wonderful about breaking everything down for us and holding our hand the entire step of the way. Purchasing your first home (or any home) can be intimidating and a lot of information, so we were extremely thankful to have Michelle to guide us through the process. Would HIGHLY recommend Tidewater Home Funding!

5 years ago

Posted on Google

We used Michelle Phillips with Tidewater Home Funding with the purchase of our first home and when we were ready to refinance and we couldn't of been happier. She was always available to answer any questions we had and helped us every step of the way. S ...

We used Michelle Phillips with Tidewater Home Funding with the purchase of our first home and when we were ready to refinance and we couldn't of been happier. She was always available to answer any questions we had and helped us every step of the way. She really made it a breeze!! I highly recommend her!

5 years ago

Posted on Google

Contact Our Team

Reach out to our team of local mortgage loan officers and take the initial step towards homeownership. Our team is ready to assist you throughout the process, offering you the necessary information and guidance to help you make informed decisions for your unique needs. Don't delay any longer - contact our team today.

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By checking this box you agree to share this information with Tidewater Home Funding and agree to our Privacy Policy. You also expressly consent to being contacted by a representative of our company, including by phone at the phone number identified above. The submission of this form does not constitute in any way a formal loan application or a commitment to lend. All loans subject to program guidelines including credit and property approval.