I hope this isnt too personal but...

Dh and i were discussing buying houses and he thinks that many couples must have gotten "help" from parents or whatnot in order to afford a down payment.

If you dont mind sharing, how much did you put down on youre house (%) and did you get any financial help from parents?

Thanks

Re: I hope this isnt too personal but...

We did 100% financing. My mom "loaned" me 1,000 bucks for closing costs and such

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We only put down 5% and didn't get help from anyone.

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Our wedding guests helped us ETA: We put down 10%.

Message edited 7/30/2007 11:42:04 AM.

Re: I hope this isnt too personal but...

I'm not ashamed to admit my MIL gave us the full 20% to put down on our first house.

For our second house, we paid 20% using the profit from the sale of our first house.

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DH bought a condo in 1999 and sold it in 2003. We used the profit as our down payment. ET: We put down 20%.

Message edited 7/30/2007 8:36:55 PM.

Re: I hope this isnt too personal but...

Thank you for your honesty girls. This is really helpful for me. I do appreciate it!!

Any others wanna share???

Re: I hope this isnt too personal but...

We bought our house from my ILs. We paid full market value, took out a mortgage for 80%. We had the 20% for downpayment in the bank, but instead of giving it to my ILs, they requested that we give our co-op (equal value) to my BIL. So we had that money still in the bank to do work on the house.

Re: I hope this isnt too personal but...

We put 20% down on our co-op. DH had saved the entire down payment himself. I had just graduated law school and only had been working for about 6 months so I was not much help in that department, though I paid for more wedding things.

We receivied an extremely generous gift from DH's parents prior to getting married, but we didn't use it towards our down payment.

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We got a lot of help, about 50%, ...we are very very lucky and grateful for every cent

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Re: I hope this isnt too personal but...

10%.

We're paying for all of it ourselves.

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Not sure how much we will put down but I am sure that it will be our money. I am not counting on any money from our parents. Not saying that in a bad way but they helped us so much from the wedding that I wouldn't even want to ask either side

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We put down just over 30%, no help from either sets of parents

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HaHa...I only wish!!

We did get a loan from my mom right before closing cuz we thought it was going to be more than we had.
So we borrowed $5K from her the week before. We ended up having enough on our own, so we gave it back to her after closing.

ETA: We put down 10% and paid for our own wedding (with a little help from DH's parents) and didn't really make much from the wedding.

Message edited 7/30/2007 11:59:45 AM.

Re: I hope this isnt too personal but...

We moved as part of a company relocation so we were given about $30,000 incentive to move to New Jersey that we used for the deposit.

I freely admit that without that money there is no way we would have been able to buy a house.

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Re: I hope this isnt too personal but...

We haven't bought our house yet, but we will do it (hopefully soon) with a little bit of "help." DH inherited some money when his mom passed away. But we would both rather not have the help and have her still living.

Re: I hope this isnt too personal but...

We are able to put 20% down on our house and we received no help from either of our parents. We spent everything we have, but we did it ourselves.

I know some family members are giving us some furniture they don't need anymore, so that's a great help to us too.

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We put down about 10% and we got the money from our wedding gifts. Not sure if that counts as "help".

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We put 20%, of our own money, down...and had another 10% in our "house" acct at the time of closing.

I'll admit, it was shocking to see our 6 figure savings acct dwindle down after those 2 huge checks, but we wouldn't have done it any other way.

Re: I hope this isnt too personal but...

Posted by SuzyQ

We haven't bought our house yet, but we will do it (hopefully soon) with a little bit of "help." DH inherited some money when his mom passed away. But we would both rather not have the help and have her still living.

Re: I hope this isnt too personal but...

We bought our condo with 20% down, no help from anyone, and will use that money and the profit from the condo for our house downpayment (probably will end up between 20 and 30% of house price) with no help.

To be honest, it hasn't been that hard. We don't make a ton of money but we've lived on DH's salary alone the past couple years to save more for our house DP.

I don't think I know anyone who had monetary help from their parents to purchase their home.

Message edited 7/30/2007 12:18:15 PM.

Re: I hope this isnt too personal but...

we put 10% down. It took us three years to save it.

We had no help.

We paid for most of our wedding. Our gifts were about half of what we spent.

It's expensive, it took time to save and we were freaking out. All normal I think when you buy your first house.

Re: I hope this isnt too personal but...