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kt214007
Member since: January 2008
Total Contributions: 1
Activity
(1 Total Contributions)Down Payment Holding You Back? It Shouldn’t.
If your parents are going to help you out with the down payment, check with your prospective lenders to find out how long the money needs to "season" in your account. When I was looking for a place, my realator indicated that 3 to 6 months of the money in your account was the standard period of time. (Make sure to check out the tax restrictions of gifts in a given year ... it might help if each your parents give you 1/2 the amount).
Comment posted 4 years ago
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