Buying a home with my child of which I will pay my 50% cash. The bank wants the 50% to be seen as a gift. Is this always the case?
Buying a home with my child of which I will pay my 50% cash. The bank wants the 50% to be seen as a gift. Is this always the case?
Buying a home with my child of which I will pay my 50% cash. The bank wants the 50% to be seen as a gift. Is this always the case?
2 Answers
Votes
Older
Newer
1
Whom do you want to keep as the title holder of the home? If it's you, then you may pay 50% down and hold the title in your name. Or else, you could let your child keep the home.
1
If you are NOT on the loan then yes they want to see that it was not a loan from you
Good Luck
Brian Barnes
Senior Mortgage Advisor loans in all 50 states
Brian@AimWithFocus.com