Family · Florida
Co-Borrower / Parent-Assisted in Florida
Helping your child buy their first Florida home — or asking a parent to help you? Co-borrower and gift-funds programs make it easy.
Common challenges we solve
- Child has limited income or credit
- Want to gift the down payment
- Parents don't want title liability long-term
What you get with Lumos
Non-occupant co-borrower programs
Gift funds for full down payment
Refi later to remove the parent from the loan
What's different in Florida
In Florida only the owner who lives in the home can claim the homestead exemption, so who goes on title matters. Florida's documentary stamp tax can apply if a parent is later removed from the deed when there's a mortgage, so ask your title company before making changes.
Loan programs that typically fit
Frequently asked
- Does the parent need to be on title?
- On FHA they go on the loan; you choose whether they're also on title.
- Can the gift cover everything?
- Yes — on most owner-occupied programs the entire down payment can be gifted.
