downpayment

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The Bank of Mom & Dad

With no-down loans long gone, many buyers turn to family for help with the upfront cash.

Real estate agent Brandon Green had a buyer lined up for a one-bedroom co-op he recently listed in a trendy Adams Morgan building. But two days before closing, the lender requested that the buyer come up with $9,000 more in cash.
Green got worried. His seller panicked.

But the buyer found a solution: She called her grandfather, who wired the additional money just before settlement.

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ltsmith's picture
Created by ltsmith 1 year 16 weeks ago – Made popular 1 year 16 weeks ago
Category: Lending   Tags:
1

MO Allows First-Time Homebuyers to Use Tax Credit as Down Payment

A few weeks ago, Missouri’s state government implemented a program enabling home buyers to utilize the federal government tax credit as a down payment. Now, several U.S. state home builder associations are trying to follow Missouri’s lead by having their state governments pass bills to employ similar programs.

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tonyarko's picture
Created by tonyarko 1 year 17 weeks ago – Made popular 1 year 17 weeks ago
Category: Buyers   Tags:
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