Woodstock, Strasburg, Shenandoah Valley and Shenandoah County Area Maps & Useful Local Web Sites
ShenandoahConnection.com is a catalog of useful Shenandoah Valley information and links to local interests and businesses. They know the value of the World Wide Web in communicating with people like you!
ShenandoahMusic.com is where you can get information and links to the Music and Arts scene in the Shenandoah Valley. You'll find links to art galleries, musicians and other cultural resources.
CarysStudio.com Carys Studio is a collection of paintings, mostly abstract oils by Cary Sober of Woodstock, Virginia, my wife :-)
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Financing Your Home >Financial Help
Escalating home prices often cause many first-time buyers to seek help from their families for the down payment on a new home. If your parents are providing financial assistance for the purchase of a home, it is important that you have very clear agreements with them about the conditions under which their help will be provided.
Sit down with your parents to discuss the details of the arrangement. Is the money they are providing a gift or a loan? If it is a gift, be sure to check with your tax expert to minimize the tax implications. If your parents are loaning the money for the down payment, how will it be paid back? Will there be joint ownership with an equity-sharing agreement? Will your parents be named on the ownership papers with you? Are special documents needed?
Whatever form it takes, parents who help their children buy a home give them an incredible gift!
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What is a "jumbo mortgage"?
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| A |
The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERT™ 
