#assisting

Looking to buy first home. Questions about parents assisting by buying all cash.

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Looking to buy first home. Questions about parents assisting by buying all cash. I’m looking to buy my first home. With rates being ~7.5% right now, my parents have offered to buy the home cash and act as the bank and offer me a rate of their choosing, ~6%. I would then refinance if rates come down in the future to completely pay them back and secure my own loan with a lender. Need some advice on this strategy and if it make…

Reddit Personal Finance 1.1k 2023-12-04