Hey team.
I’m closing on my first home with 20% down in the next bit, and I’ll be financially stable with my outflows for monthly payments, taxes etc...
Parents want to give me an additional 10% cash loan to help lower my interest payments, as they don’t want to park their cash anywhere else and won’t need me to repay for the foreseeable future (sufficient cash for retirement, and won’t need to be paid all at once right away). Does anyone have advice on whether this is a good idea, and if they have taken in help from parents?
Edit: Canada where 20% is needed to avoid add home insurance.
Submitted May 01, 2019 at 11:31PM by Orangechode1 http://bit.ly/2DDaMab
