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Know the Loan Implications of Getting Family to Help You Buy a House

When it's time to buy your first home, instead of taking out a large loan, you may decide to ask your parents for the money or, alternatively, give yo

August 9, 2014 · 1 min · 71 words · Hannah Brown

Banks don’t always see this as gift and it can affect the loan decision.

The Wall Street Journal analyzed if parents should give their children money to buy a home.

The loan rate could be higher or denied altogether.

Check the link out for other considerations for giving or accepting financial help to buy a home.

Think Twice Before Helping Your Children Buy a Home| Wall Street Journal

Photo byChris Potter.