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anyone receive family money for a down payment on house?
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Anonymous
| Just curious about this. I was chatting with some relatively new friends this weekend, and seems that most of them had help from parents. Anyone else out there? Wish we did! Still struggling to get out of a condo. . . |
Anonymous
| Yes, we did but we repaid it within a year thanks to a loan through my DH's workplace. My parents would probably not have asked to be paid back but DH insisted. |
Anonymous
| Yes, and we wouldn't have been able to buy the house we had if we hadn't had the help. I realize we are incredibly fortunate and hope to one day be able to help our children with down payments for their homes. |
Anonymous
| Yes, and I'm very grateful to them. We have a formal, signed interest and repayment schedule. It actually worked out well for both of us -- the rate was lower than our mortgage, but higher than they were getting from their bank. |
Anonymous
| Yes, my parents paid for our closing costs. |
Anonymous
| No, we didn't get any help from our parents. We wound up buying an extremely cheap house, with 100% financing. Of course, we now live in a neighborhood that most DCUM's probably wouldn't ever consider, but we were very grateful to be able to buy a house that met our needs that was within our budget. |
Anonymous
| Yes, my parents gave my sister and I each $100,000 to help buy a house (a condo in my case, mini-mansion in her case) about 15 years ago. It really helped us get into something, and now we have some equity. |
Anonymous
| When we first got married, I was 24 and my husband was 27. We bought a condo for around 165. I put down 10k of inheritance from my grandmother, and my husband's dad gifted us $10,000. |
Anonymous
| Our mortgage is through my parents. |
Anonymous
| Yes, a great deal of help. |
Anonymous
| No family help of any kind. |
Anonymous
| Wow. I'm really surprised at all the posters who received money. I got zip for the house. But my parents paid for law school (I think I was the ONLY one in my class with that kind of help). So, sort of like teaching a man to fish, I can thank my parents for the ability to make mortgage payments. DH already had a condo when I met him and we sold that to move into our house. I wonder if he had any help from his parents when he first bought the condo. I don't think so though. |
Anonymous
|
I'm struck by all the help so many people seem to receive from parents (and I admit, envious).
DH and I each put ourselves through graduate school (law school for me), with zero help from parents. We bought two houses, again, zero help from parents. When each of our children were born, my parents gave them each $500 as a gift. That's the largest gift we've ever received from either set of parents (and it wasn't for us, LOL). |
Anonymous
| When I was still single, my parents gave me $12,000 to buy my first condo for $120,000 (in Arlington! it was 1999). When I got married in 2004, I sold my condo for $380,000. Yes, I am very grateful to my parents for helping me out back then. It allowed my husband and I to buy a more expensive house than we ever would have been able to otherwise afford. |
Anonymous
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Our parents gave us 100K for our most recent house purchase and we are in our mid 30's.
My husband paid for his education himself (undergrad and med school). Mine paid for my undergraduate and I paid for grad. |