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[quote=Anonymous][quote=Anonymous]Look at the tax implications. They can only gift you so much money a year.[/quote] Le sigh. This isn’t true. If they gift you a down payment bigger than 17k or whatever the current exemption is, they just have to fill out a form with their tax return counting it towards their lifetime gift/estate tax exemption, which is currently $12m or so. If your parents haven’t yet hit the limit and they give you $300k for a down payment, no one pays any taxes on it. They report it on their tax return and the IRS is counting up to $12m, at which point they will start to have to pay tax on gifts (to individuals). [/quote]
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