Difference between revisions of "Borrow Money from Family or Friends to Buy a Home"

Do you have family and friends with the heart and the wallet to help you achieve home ownership? New home buyers are increasingly using "intra-family mortgages" of 10-100% of the purchase price to do this. But you need a plan to avoid the hassles and pitfalls of mixing money and relationships. The best way to borrow from people you know is to make the deal as formal as possible. Before you borrow any money you need to be sure that you can pay it back at the agreed terms.

Do you have family and friends with the heart and the wallet to help you achieve home ownership? New home buyers are increasingly using "intra-family mortgages" of 10-100% of the purchase price to do this. But you need a plan to avoid the hassles and pitfalls of mixing money and relationships. The best way to borrow from people you know is to make the deal as formal as possible. Before you borrow any money you need to be sure that you can pay it back at the agreed terms.

== Steps ==

== Steps ==