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Reply to "Can we talk about parents buying their adult children luxury homes"
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[quote=Anonymous][quote=Anonymous]I own a large title company in the area. I am completely dumbfounded by the amount of help people get from parents. I would say the majority of first time buyers get help. For some it’s a few grand. Most commonly the white down payment which can range from 3.5% for fha to 20%. Many get the delta between the loan they can afford (ie $300k) and the home costs where they are buying (ie $500k). Others get $2M-$3M houses. Literally the majority. [/quote] It doesn’t surprise me, given the number of unpleasant and entitled people around here.[/quote]
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