{"id":16168,"date":"2018-03-05T10:41:57","date_gmt":"2018-03-05T18:41:57","guid":{"rendered":"https:\/\/www.hayden-homes.com\/?p=16168"},"modified":"2023-06-13T12:14:13","modified_gmt":"2023-06-13T20:14:13","slug":"blog-asking-parents-help-with-down-payment","status":"publish","type":"post","link":"https:\/\/www.hayden-homes.com\/blog\/blog-asking-parents-help-with-down-payment\/","title":{"rendered":"Asking Your Parents for Help with a Down Payment"},"content":{"rendered":"

Buying your first home is not an easy feat, especially if you\u2019ve been scrimping and saving for a down payment and want the best possible mortgage rate. However, there are ways to get around having to come up with a 20 percent down payment, including, in some cases, taking out a higher interest loan in exchange for putting a smaller amount down. For those who don\u2019t have that option, though, or for those who don\u2019t want to be bound to a high-interest loan, there may be an alternative: asking your parents for help with a down payment.<\/p>\n

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5 Reasons Why Parents Help Children Purchasing a New Home<\/strong><\/h2>\n

If you are a millennial or generation Z-er, there are a number of reasons why your parents may be willing to help you out with a down payment to buy your first home, beginning with the fact that the relationship between parent-child for young persons in these generations is much different than it was in previous generations. Often times, parents today offer more support for their children than their own parents did. In addition to providing continued love and support, parents may want to help children purchase a home for several reasons:<\/p>\n