There is not a chance I'm asking my parents to do it. I can pay almost 20k down on a 50k starter home. I am a student with a lot of assets, but do not have a good paying job (yet).. only what my parents have invested in the stock market for me.
Her family knows that I have more than enough money, but how do I approach them? I'm paying 1k/month for our rent when my mortgage would be 1/2 that.
We just really need to get out of renting and own a house before we get married in a year.
2007-08-05 20:43:06 · 5 answers · asked by Mike P 1 in Family & Relationships ➔ Weddings
Don't. Wait til you are ready to buy one on your own - 'tis a mark of an adult.
2007-08-06 01:08:09 · answer #1 · answered by Lydia 7 · 1⤊ 1⤋
With 20k you are just short of 1/2. That alone should be enough to get you the loan, though your interest rate might be high at the beginning you can refi later. Your assets, and the house with 20k in instant equity, would be collateral.
How does your fiancee feel about asking her parents? Perhaps it would be better if she approaches them or atleast has a heart-to-heart with her mom or dad to "test the waters."
Why won't you ask your parents? If it's ok to ask hers ...
Find a cheaper place for now so you can save more for a house. When they see the efforts you are making, they may offer. Of course, this may come closer to the wedding date or soon afterward.
2007-08-09 20:41:35 · answer #2 · answered by SailorsWife 2 · 0⤊ 0⤋
don't ask hint, and see if they offer. in casual converstation mention that
Tell them about the great house you found then mention . . .
We went the bank the other day, turns out they won't give us a loan for a house, on the account that of our income flow is so low, even though we have enough assest to make the payment. ... they said we could get a co-signer we would qualify but we would want to inconvience you or my parents
Then drop it.
If they are don't want to cosign they will say nothing, change the subject, or politely respond that it is probably best for you to wait til you can afford it on your own. If they do that don't bring it up again. Personally if you were my kids, I would not co-sign until after the marriage.
But they may say something like, we would like to help.
2007-08-06 02:00:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
certainly i could wait till your married in the previous asking a query like that. could issues fall via for you and your fiancee for notwithstanding the clarification you will could sell the abode. Its greater appropriate to attend till your married. in case you incredibly wanna try this then positioned on paper a prposed plan of what you wanna do with funds and so on. yet given you haven't any longer have been given a solid sufficient payng activity yet you incredibly could wait, once you own a house you have extra fees like what if the furnace breaks you may pay for it or what if the water substantial on your new abode starts off leaking, all and sundry of those issues could be considered whilst procuring ahome a minimum of once you hire the owner is to blame for all upkeep.
2016-10-01 12:03:59 · answer #4 · answered by gavilanes 4 · 0⤊ 0⤋
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2007-08-07 05:10:36 · answer #5 · answered by Anonymous · 0⤊ 0⤋