More than 1-in-5 recent first-time buyers needed help with their down payment — here’s what you need to know before helping your kid buy their first home
April 6th 2023
Moneywise
By
Thanks to sky-high mortgage interest rates and housing prices, a good chunk of young Americans have recently turned to the bank of mom and dad to help fund their home purchases.
Ellen Sykes, a broker at Coldwell Banker Warburg in New York City, has been in the real estate industry for 20 years and says she’s seen a marked increase in the number of clients helping their adult children purchase homes.