That's right! You can even help them if needed.
How Can Your Adult Children Buy A Home and Get $8,000?
Parents of children age 18 or older are eligible to cosign for FHA financing for their children to buy their first home. The down payment with FHA financing is only 3.5% and as first-time home buyers your children can get up to $8,000 from the government! So instead of renting, help your children to take advantage of the biggest incentive for first-time buyers in history. This is an advantage that no other generation has had so don't miss it!
How Does The $8,000 Tax Credit Work?
As long as your child does not sell the home for at least 3 years then they do not have to pay back the tax credit. This holds true whether you have one or more children. In our 10 years of helping first-time home buyers we have never seen such a great way to help them get into a home for virtually no money of their own. It is like our government is paying us to help our kids buy their first home.
To learn more look at how to take advantage of the Tax Credit.
Get more information about the Charlotte Real Estate Market from The Ramsey Group at Your Charlotte Connection.
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