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To buy a house in today's market, more people turn to an alternative lender: their parents - TL;DR CNBC

To buy a house in today's market, more people turn to an alternative lender: their parents

Publishing timestamp: 2023-11-13 12:36:46


Summary

Affordability is the biggest obstacle for aspiring homebuyers, leading many to rely on family money for down payments. High home prices and mortgage rates make it difficult for buyers, especially first-timers. Many buyers tap into savings and receive gifts from family and friends to afford a down payment. Affordability is a major concern for most potential homeowners, and the payment-to-income ratio has increased over the years. However, there are options available for buyers with lower down payment requirements.


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Keywords: breaking news: investingunited statesredfin corppersonal loansmortgageszillow group incinvestment strategyaffordable and low income housingfamily financesreal estatepersonal savingpersonal financepersonal debtbusiness news

Source: https://www.cnbc.com/2023/11/13/to-buy-a-home-in-this-market-buyers-turn-to-the-bank-of-mom-and-dad.html


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