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So I [26M] am being gifted a large sum of money for a downpayment. I currently work full time in IT and have roughly $10,000 saved up at the moment. I have no significant debts besides a car loan which has roughly $6000 remaining. This whole thing was suddenly sprung up on me and is causing me a massive amount of anxiety\/excitement as I don't feel ready for home ownership. The idea is to have a home under my name and live there while I rent out the basement. For more context the home they are looking to purchase for me is ~ $460,000, they are providing me with a $120,000 downpayment, and the potential to rent out the basement is safely around $1200\/month I'd be paying the remainder of the monthly mortgage\/utilities\/etc. I'm in the process of getting prequalified, but I feel as if there are so many steps to this process that I didn't get to fully absorb since it happened so quickly. I never asked for this and I'm grateful to even be in this position, but I'm still very nervous. Any and all advice is deeply appreciated!<\/p>\n<\/p><\/div>\n
submitted by \/u\/ThisUserIsSuspicious <\/a> So I [26M] am being gifted a large sum of money for a downpayment. I currently work full time in IT and have roughly $10,000 saved up at the moment. I have no significant...<\/p>\n","protected":false},"author":1,"featured_media":24127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[10],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/27568"}],"collection":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/comments?post=27568"}],"version-history":[{"count":0,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/27568\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media\/24127"}],"wp:attachment":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media?parent=27568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/categories?post=27568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/tags?post=27568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
[link]<\/a><\/span> [comments]<\/a><\/span>Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"