New answers tagged home-loan
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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 ...
3
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 ...
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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, ...
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