Buying a Home in the Vancouver / Portland Metro Area Involves Many Important Decisions. Make Certain YOUR real estate agents are Top Local Experts on the Vancouver - Camas - Clark County, Washington Market. 

Most first-time buyers can qualify for a mortgage loan, but they may need help from parents to make the down payment or closing costs on their home. There are loan programs that minimize the down payment and closing costs for first-time buyers. These programs usually require that 3 to 5 percent of the purchase price come from the buyers' funds, not from a loan or gift. Most lenders ask for the last three months' bank records. The borrower will be asked to reveal the origin of any large deposits. If the money comes from the homebuyer's parents, the lender may not consider those funds when qualifying the buyers.

Parents who are planning to help their children finance a home should transfer any funds several months before the house-hunting process begins. If it is a loan rather than a gift, a formal re-payment agreement should be drawn up between parents and children to eliminate potential misunderstandings or future complications with either estate.

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Kathryn Alexander & John Slocum
RE/MAX equity group, inc. - Salmon Creek
1319 NE 134th Street, Suite 101
Vancouver, WA 98685
Main (toll free): 1+888-525-5528 x81
Email: AlexanderSlocumTeam@NUMBER1EXPERT.com

Vancouver Washington Real Estate & Homes, including Camas, Felida and the rest of Clark County Washington are provided to you by professional Realtors(r) Kathyrn Alexander and John Slocum. Whether you are buying or selling real estate in Vancouver Washington, our Team approach and ClarkCountyExpert.com ensures you'll have a "Problem Solved" experience. We want you to Live Your Dream!