The Bank of Mom and Dad

When I purchased my first condo, my mom helped me out.  Without her assistance it would definitely have taken me another year or two to save up for the down payment.  Getting into the real estate game early definitely helepd me build enough equity in a few years to move up to a much larger space.

I have been seeing this happen a lot with first time home buyers.  One of my client’s parent even went as far as taking a home equity line of credit to help out their son.  Mind you they have a fully paid off house and have seen huge appreciation in their property.

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