All Forum Posts by: Josh Dennis

@Kathy Henley the bank holding the Helox loan is the same bank that the mortgage will be through. Speaking to a CPA is a good idea, I will do that! 

The house that I currently live in is in my parents name. They originally bought it using a HELOC loan from their house since the house was paid off. I now live in and pay all expenses on the second home so I am looking to buy it from them by taking out a convential mortgage and purchasing it from them. I've made improvements that have increased value on the house a good amount and plan to use a gift of equity from them as the 20% down.

Without going through a agent and just the bank and attorney, I'm looking for information on how standard fees for closing can be avoided and/or other good options to work with to make the transfer as seamless as possible with little extra expense.