It's important to choose a lender who can support you with the right guidance, and terms throughout the life of your loan.
The following 5 things should be always at the top of your mind when you're trying to find a lender you can trust to work with you for the foreseeable future.
Experience/Credibility: You need someone who isn't going to dupe you into ...
Since this is the United States here are some numbers.
In 2020 the annual limit before having to account for the gift on your parent's tax return is $15,000 per person.
My parent, a sibling and I are buying a home together. My sibling and
I will pay the mortgage loan, and my parent will provide the down
payment. All three of us will be on the title, but ...
All three of us will be on the title, but since my parent will not be on the loan, the transaction is technically a gift.
Your assumption is wrong.
Assume the home costs $300,000. The parent pays $60,000 and owns 1/5, and each of you pays $120,000 and owns 2/5. The loan will be on $120,000, and the down payment made by your parent is $60,000.
This way, ...