Mary and Ed Ask… Should we help our daughter buy a home?

photo1With student loans and a tough job market, I hear this question more and more. There’s a lot to consider. Can you afford to help your son without making it hard to meet your own expenses — and without jeopardizing your retirement? Is this a good time for your son to buy a house, with or without your help? Or will he have trouble making his house payments once he’s in his new home? Finally, do you help with a gift or a loan? Will he be able to repay a loan? Can you afford to help him if you never get your money back, regardless of what it’s called? If your help comes in the form of a gift, try to make the gift far enough in advance that lenders don’t view it as a possible loan masquerading as a gift. Lots to think about and consider! Want to talk over your situation? Give me a call and let’s chat.  303-696-6933

 

Meet Cheryl!

About Cheryl

As a successful business owner and community leader, Cheryl Braunschweiger is known and respected for getting things done with a degree of skill and enthusiasm that bring out the best in those around her - colleagues, clients and friends. The name of her business, ALMC Mortgage, reflects Cheryl's philosophy and personality. She says it stands for All Loans Must Close –a reflection of her determination to do whatever it takes to serve her clients. Cheryl has been in the mortgage lending business for 20 years. Read More About Cheryl
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