Gifted Down Payment Money: Yay or Nay?

Home buyers trying to scrape together enough money to cover the typical 20% down payment on a house frequently look to their parents and relatives for help. This is especially true with first time home buyers who, understandably, might not have had time to save all the cash necessary to put that 20% down, particularly in the Silicon Valley. When I bought my first home some thirty years ago, I borrowed money  for the down payment from my dad … [Read more...]