A loan to purchase a home so that they can let their daughter live in it free isn't a business purpose loan in my eyes, no.
However, i don't think the family relationship is a factor....if the daughter was paying rent i would be ok with a business purpose designation and if someone unrelated to the borrowers was living there rent-free, i'd still call it consumer purpose.
Last edited by raitchjay; 06/07/23 04:29 PM.
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I'm fixin' to fix that.