Helping Your Kids Buy Their First Home in Fort Collins

Some of my favorite closings are with the kids of clients I helped 20 or 30 years ago. Prices in Northern Colorado make that first step harder than it used to be, and many parents want to help. Here are the most common ways.

Gift funds

Most loan programs allow a parent to gift part or all of the down payment. It takes a simple gift letter and a paper trail showing the money moving. Talk to your tax advisor about gift tax rules.

Co-signing

A parent can be a co-borrower to help the income or debt picture. Just know that the loan shows up on your credit too, so it's a real commitment.

Down payment assistance

Colorado has statewide and local programs that can help with the down payment and closing costs. Income and price limits often apply. I'll check which ones fit.

Start with a conversation

The best first step is a call with your son or daughter and me. We'll look at their budget, credit and goals so everyone knows the plan before they start shopping.