This is not a futures related question but there are a lot of financially minded people here so I ask your indulgence.
I am looking for help to perform a financial analysis of a scenario.
Person A, 66, wishes to purchase a home in Florida in which to retire but is not able to pay cash.
Person A has no spouse nor heirs and no other reason to accumulate equity in the property.
Person B is willing loan Person A 100% of the purchase price and closing costs. The loan will be 30 year fixed at long term AFR, interest only.
Person Person A is responsible for all costs of ownership, taxes, insurance, maintenance and upkeep, condo fees, etc. Person A has a 760 credit score and continuing income which is more than sufficient to make the payments on the loan and the other costs of ownership.
Ownership of the property will transfer to Person B or his estate when Person A dies.