Buying a house with my son

[mjw]

What is the name of your state? Ohio

I'm looking to buy a house with my son. This would be his only house and he would be living in it. I already own a home and would remain living in it. I would provide most of the down payment and he would provide most of the mortgage monthly payments.

Would we be able to share the mortgage and tax deduction benefits?

Is there a set percentage we can split or do we decide ourselves?

 

[sagito327]

What is the name of your state? Ohio

I'm looking to buy a house with my son. This would be his only house and he would be living in it. I already own a home and would remain living in it. I would provide most of the down payment and he would provide most of the mortgage monthly payments.

Would we be able to share the mortgage and tax deduction benefits?

Is there a set percentage we can split or do we decide ourselves?

It depends on whether you are a cosigner or a coborrower. If you were a coborrower then you can expect the benefits of owning another home, but also the scrutiny of someone buying a second home (i.e. higher interest rate, etc.)