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Can I buy a house for my kid and have them make the payments?

I won't be living in the house but I want to pay the deposit and fees and then they will make the monthly mortgage payments. Can i do that?

Asked By Michael O. | Stafford, TX | 620 views | Buying | 2 years ago

Answer(2)

Novice

Ryan Edwards

Keller Williams Realty

(62)

More information needed and It depends on how you are buying the home, primary residence or investment property. You can also be a cosigner and/or gift funds to your kids and they purchase as their primary residence. Definitely talk to your lender about options and the best way to accomplish this purchase.

Novice

Jess Hiatt

HomeSmart One Real Estate

(14)

Depends on your loan terms and requirements. You will want to check with them as some loans require it to be your primary residence for a specified period of time.

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