Posted on: 06th Oct, 2010 09:42 am
What are the pros and cons of buying a home for a child and holding the mortgage in Washington State?
Hi crazbird!
Welcome to forums!
A person below 18 years of age will not be able to get a property in his or her name. So, if your child is below 18 years of age, then you'll have to buy the property in your name. You will also have to carry the mortgage. If you already have a mortgage in your name for some other property, then you won't be able to get a mortgage.
Feel free to ask if you've further queries
Sussane
Welcome to forums!
A person below 18 years of age will not be able to get a property in his or her name. So, if your child is below 18 years of age, then you'll have to buy the property in your name. You will also have to carry the mortgage. If you already have a mortgage in your name for some other property, then you won't be able to get a mortgage.
Feel free to ask if you've further queries
Sussane