Millennials’ New Weapon in Bidding Wars: A Parent’s Home Equity
Parents refinance their own homes to help their children compete as all-cash buyers in hot housing markets. When the purchase closes, the children pay the parents back.
American Pacific Mortgage
Friday, October 13, 2017
How Parents Are Helping Their Kids Buy a Home!
I recently closed a refinance for a couple whose parents provided the funds for them to buy a home all-cash. Why? In today's market, this made their offer much more attractive to the sellers, since they could close quickly and without any loan or appraisal contingencies. After closing, I was able to assist them with a refinance to recoup funds to repay their parents. A total win-win. The article in today's Wall Street Journal details exactly the same scenario, and how many younger couples are getting this same assistance from their parents. go to: www.wsj.com
Millennials’ New Weapon in Bidding Wars: A Parent’s Home Equity
Parents refinance their own homes to help their children compete as all-cash buyers in hot housing markets. When the purchase closes, the children pay the parents back.
Millennials’ New Weapon in Bidding Wars: A Parent’s Home Equity
Parents refinance their own homes to help their children compete as all-cash buyers in hot housing markets. When the purchase closes, the children pay the parents back.
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