Debt Free In 30

376 – Should You Help Your Child Get a Mortgage? with Ron Butler

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Sinopsis

According to an October 2021 CIBC report, the average down payment gift from a parent to their child has risen to a record high of $82,000. But while most of these gifts are cash savings, and not debt, is it still wise to gift your child a down payment for their first home? Could there be repercussions and if so, what? On today’s podcast, mortgage broker extraordinaire Ron Butler, gives first-hand insight into the rise of down payment gifts for first-time home buyers and discusses the increase in co-signers on mortgages. Ron also explains whether an interest rate hike will affect home prices and much, much more! Tune in.   Related Links:   CIBC Report – “Gifting for a down payment – perspective” by Benjamin Tal: https://economics.cibccm.com/cds?id=9dc124d8-9764-4c1d-83b4-9e89a5d568b8&flag=E Hoyes Michalos Homeowners Bankruptcy Index: https://www.hoyes.com/press/homeowner-bankruptcy-index/ Podcast 334 – Mortgage & Home Equity Refinancing: What Are the Risks in 2021? https://www.youtube.com/watch?v=-CS