|
All agents are NOT alike! Find out why we are top real estate experts. Call us: 330-725-4408.
|
Get Free Presentation On Our Home Marketing.
Before signing a contract with any Realtor, make sure you know EXACTLY how your home will be marketed.
Find Out More >
View All Offers >
|
 Compare three mortgages at one
time. Download TripleCalc now. It's free. |
Lori Schwarz and Team are some of
The Top Selling Real Estate Experts™
Find Out More > |
|
|
 |
|
Medina Summit County Women's Council of Realtors
Financing Your Home >Financial Help
Escalating home prices often cause many first-time buyers to seek help from their families for the down payment on a new home. If your parents are providing financial assistance for the purchase of a home, it is important that you have very clear agreements with them about the conditions under which their help will be provided.
Sit down with your parents to discuss the details of the arrangement. Is the money they are providing a gift or a loan? If it is a gift, be sure to check with your tax expert to minimize the tax implications. If your parents are loaning the money for the down payment, how will it be paid back? Will there be joint ownership with an equity-sharing agreement? Will your parents be named on the ownership papers with you? Are special documents needed?
Whatever form it takes, parents who help their children buy a home give them an incredible gift!
|
| Q |
At the doors of what famous temple do you find yourself when you climb the 'Stairway to Heaven'?
|
| A |
The Temple of Heaven in Beijing, China, attracts the local faithful and tourists. |
 See More Real Estate Trivia > |
|
|
|
|
- NUMBER1EXPERTS™ 
