The One Place You Can Still Get a 3% Home Loan: Your Family – The Wall Street Journal

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https://www.wsj.com/articles/family-mortgage-loans-irs-rules-and-rates-11658443558
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With average mortgage rates near 6% for a 30-year-loan, some lucky home buyers are snagging rates at half that. Their secret? They’re borrowing from family members instead of a bank.
Family help has typically come in the form of cash down payments, but now, rising commercial mortgage rates, soaring rents and sky-high home prices are prompting more people to turn to family to cover the mortgage as well, says Timothy Burke, chief executive officer of National Family Mortgage, which helps families set up private mortgages and track payments. These loans typically involve well-off parents lending money to adult children to get them into a first home, but grandparents also are lending money to grandkids, aunts and uncles to nieces and nephews, and siblings to each other, Mr. Burke says.
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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

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