In-laws offering to loan us money to buy home @ 0%
I’m curious if there might be a reason I am not thinking of to take my in-laws up on their offer to loan us the cash to buy a new home. They’ve offered to loan us the money at 0% interest. It would save us close to $250k in interest over the life of the loan. I can’t think of a reason not to accept, but wanted to check here and maybe someone has a reason I hadn’t considered. Thanks
Edit: I appreciate you guys taking the time to respond. I guess I could have been more clear in my initial post, I wasn’t asking for interpersonal relationship advice, merely financial. Some of you guys seem to either have terrible families or are incredibly married to the idea of living by absolute truisms. The personal parts of this deal I am fine with. I would never consider it if I thought any of the negative things some folks are suggesting would be the case. I’m not that young and naive. I’m mid 30’s with a couple kids and this is my second house. I was just presented with an opportunity to save some money. Either way, like I said, I appreciate you folks. This sub is outstanding and there were some really thoughtful responses in here. Sorry that I couldn’t respond to everyone.