Sometimes coming up with the down payment or getting a loan is not easy. If you have a lot of credibility with your friends and family, then you can work something out with them.

For example, it is possible to buy a house with a relative who can help you initially with the down payment or securing a mortgage loan. When you have enough savings, you can buy their shares of the house.

It is important to work with someone you trust because a house is a big purchase item.

Make sure that your partner understands that this is strictly a financial agreement only, and not necessarily a living arrangement where you will be living together.

Categories: Finance

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