When does it make sense to add a working child as one of the mortgage borrowers?
Once the child is added, does this mean her primary residence will be this property he/she will purchase with his/her parents and that any future property he/she purchases will be considered an investment property?
Will it only make sense if the household wants to borrow potentially a bigger amount? Or are there other reasons?
I'm just asking for a family friend who are shopping a condo/townhouse at the moment and it will be their first purchase.
Thank you.
Will it only make sense if the household wants to borrow potentially a bigger amount? Or are there other reasons?
I'm just asking for a family friend who are shopping a condo/townhouse at the moment and it will be their first purchase.
Thank you.