“Parents give us life. What did we give them in return?”
*Interest rates are subject to change without notice and do not constitute a commitment to make any loan at any specific rate.
Our client wanted to buy a 4-unit building where his parents and his wife’s parents could live in their own apartment and he could rent the remaining units to cover the mortgage payments.
He made an offer: fixed for 5 years for $1,500,000. With the 30% down payment, his new mortgage of $1,050,000 plus taxes and insurance will be about $6,700/month. The rent is currently $6,000/month.
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