how common is it to get a loan from a parent, for buying a house?
we found our dream house, it's gorgeous and in the perfect location, but I have no credit and that means I have bad credit, right? I can't cosign, so I was thinking... my mom is wealthy, and I have been pondering asking for a loan of 35k, at a 2% interest rate. If we get this 35k, we can afford this home no problem. I'd pay back the loan in full within 7 years.
Is this a normal thing to ask a parent? I'm a little nervous asking just because to me, it's a lot of money, but to her it isn't a huge deal. I was never spoiled so I realize how much money this is and how lucky I would be to be loaned it. Am I being selfish asking for the loan?? how can I ask her for this, she intimidates me a bit but this home is just perfect and I want to give it a shot.
2007-11-24
14:17:07
·
4 answers
·
asked by
LifeLove
3
in
Renting & Real Estate