Timeline for Buying a home with down payment from family as a "loan"
Current License: CC BY-SA 3.0
6 events
when toggle format | what | by | license | comment | |
---|---|---|---|---|---|
Jun 9, 2011 at 3:41 | comment | added | user536048 | Yes, I am okay with that. If the housing recovers a decent amount, I make a decent return on my investment as well, which I wouldn't be able to without the loan to begin with. | |
Jun 8, 2011 at 16:47 | comment | added | JTP - Apologise to Monica♦ | Not a problem. Littleadv did a great job with a numerical example. Each 10% increase is a 17% return to the relative. If housing recovers a decent amount, the lender really benefits. | |
Jun 8, 2011 at 4:09 | comment | added | user536048 | Ah, I see. The amount I am unable to pay in this case will be a loan that I can pay off slowly. We have already agreed on a loan plan for such a condition and we are okay with that. (I seem to be unable to upvote until I get 15 points :( ). | |
Jun 8, 2011 at 4:04 | comment | added | JTP - Apologise to Monica♦ | If you are very lucky, and the home doubles in 5 years, not impossible, the other guys 30% value doubles as well. If you can't pay that off, what will you do? | |
Jun 8, 2011 at 3:59 | comment | added | user536048 | Thanks. You mean I might be forced to sell by the family member if the price goes up a lot? That won't happen. Or did you mean something else? | |
Jun 8, 2011 at 3:53 | history | answered | JTP - Apologise to Monica♦ | CC BY-SA 3.0 |