Quote:
Originally Posted by meme405
They will probably be laughing at you in 15 years, when they have a comfortable life, with a paid off house, taking trips to europe, two nice cars, etc.
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I think both you and CB are both possibly right as you guys are looking at it from 2 different extremes.
We don't know for sure if that $500K gift has to be repaid or if that is free money to them.
We know that they were not approved for a $280K mortgage, which leads me to believe that they have not be in the work force long enough to qualify for a mortgage.
Assuming the money is a gift and does not need to be paid back, then even with just a single income, they should be able to handle that $280K mortgage at the current interest rates.
Who knows, maybe in 2 years they will split and things will get nasty trying to decide who gets what and for how much.