Helping Your Child(ren) Buy Their First Home: A Meaningful Investment in Their Future

For many parents, helping their children buy their first home is one of the most rewarding financial gifts they can offer—a way to pass along not just wealth, but wisdom, security, and opportunity. Whether your child is fresh out of college, starting a new career, or preparing to settle down with a family of their own, your support can make all the difference in their homebuying journey.

Here are a few practical ways you can assist in turning their homeownership dreams into a reality:

1. Provide a Gift Toward the Down Payment One of the most common and helpful ways to assist is to provide a gift of documented funds toward the down payment. If you’d rather not dip into your cash reserves or sell assets, you might consider tapping into the equity in your own home.

2. Co-Sign the Loan as a Non-Resident Co-Borrower If your child’s income or credit isn’t quite where it needs to be, co-signing can help them qualify for a better loan. Keep in mind, this comes with financial responsibility, so it’s important to understand how it may impact your own credit and debt ratios.

3. Encourage Siblings to Pool Resources If your children are willing to purchase together—or with trusted friends—they may be able to afford more than they could on their own. A duplex or multi-family property could provide both living space and rental income.

4. Provide Your Sweat Equity Got renovation skills or real estate savvy? Helping them fix up a starter home could offer significant savings. At ONE Presidential Mortgage, we offer loan programs to help cover renovation costs.

5. Offer a Favorable Rental Price Already own a rental or investment property? Consider offering it to your child at a lower-than-market rate while they get on their feet, or until they’re ready to buy.

6. Allow Them to Live With You Temporarily Letting your child live at home while they save for a down payment is another great way to support them. Just be sure to set clear expectations around timeframes and household boundaries.

Let’s Explore the Right Path—Together

If you’re considering how to help your child buy their first home, we’re here to guide you through all the available options. Whether it’s navigating gift documentation requirements, qualifying for a joint mortgage, or exploring renovation loan programs, our team is ready to help.