Should You Pay Off Your Parents’ Mortgage… Even If You Don’t Have Your Own?

by Ernest Van Glahn

Paying off your parents' mortgage is a generous gesture. It's a heartfelt way to give back to those who raised you, supported you, and sacrificed for you. But when you're still renting or saving for your own future home, is it the smartest financial move?

Let’s break it down.

🤔 Ask Yourself These Questions First:

✅ Are you financially stable yourself?
Before jumping into a big financial commitment, make sure your own foundation is strong. If you're still living paycheck to paycheck, it might not be time just yet.

✅ Do you have an emergency fund?
Life happens. A job loss, medical emergency, or unexpected expense can throw your finances off track. A healthy emergency fund (usually 3–6 months of living expenses) should be in place before taking on someone else’s debt.

✅ Are you actively saving for your own future home?
If buying your own place is on the horizon, consider how paying off your parents' mortgage might delay that dream. Balancing generosity with your own goals is key.

✅ Is this gift sustainable long-term?
If you wipe out your savings or take on another financial burden to make this happen, will it put strain on your future plans? Generosity shouldn’t come at the cost of your own financial health.

💡 Support Comes in Many Forms

Helping your family doesn’t always mean taking over their debt.
Consider these alternatives:

🤝 Co-investing in property
📊 Helping them create a financial plan
🧠 Offering knowledge, budgeting tools, or access to resources
🫶 Being emotionally and practically supportive

Sometimes, support is about presence, not just payment.

💬 Let’s Start the Conversation

Would YOU pay off your parents’ mortgage before owning your own home? Why or why not?

Drop your thoughts below — we’d love to hear different perspectives on this very personal, yet increasingly common situation.

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📞 Call, 📱 Text, or 📧 Email Ernest Van Glahn today — and start packing!
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