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[quote=Anonymous]I have done both the loan and the gift with my parents.  For house #1 they loaned me the down payment (about 100K) and I got a mortgage for what I was comfortable with (170K).  I paid them back monthly with interest (market rate at the time) until about three years later.  At that time, my equity went up so much that I could refinance and pay them back entirely.

For house #2, they approached me with a 300K gift which was totally their idea, because they wanted to help improve my commute. They couched it as "here's a gift if you want it, use it if you want for a home, no obligation to take it."  They live locally so both times they saw the house before I made any final decisions, but I was getting their input, not their approval.  We tend to think the same way about a lot of things, so it was more about getting their thoughts.  Both times, they liked the home I chose.  However, I think if they disagreed with me on a particular house, I am fairly confident they still would have supported my final decision on a home, and I know that I would be ultimately responsible for it.

I think this worked so well because we have a strong and respectful relationship on both sides.  They don't meddle, and I am careful not to be too seeking of their approval.  [/quote]

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