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Short term bridge loan to child for house purchase until mortgage closes
My daughter and husband are buying their first house. Competitive situation so they want to bid as is with 2 week closing. Is there any issue with me loaning them $200,000 for 2-4 weeks until their mortgage proceeds are received? Assume there are no potential gifting issues with loan documentation, AFR rates, etc. if the loan is repaid that quickly? Thanks
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‎August 19, 2021
7:54 AM