Helping Your Adult Child Buy A Home
Posted by Admin Staff on
When it comes to purchasing a home, many millennials and Gen Zers have insurmountable worries. When mom and dad were buying their first home, housing prices were significantly lower, lending guidelines weren't as rigid, the cost of living was comparatively better, and the debt to income ratio wasn't large. A 20% down payment was an attainable financial goal in the 70s and 80s - now, not so much. For these reasons, many young people are turning to the Bank of Mom and Dad to turn their real estate dreams into reality. What options are available to you, as the parent of a to-be homeowner?
Can You Afford It?
Anything you contribute in this matter will be significant, so it's important that you consider your finances before making any…
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