Tag: gift funds

It is very common for family to help family buy a home, especially when FHA loans are involved.  Assistance is usually in the form of a gift towards down payment.  But sometimes real estate agents represent a family member or themselves as a buyers agent.  If you’re a realtor buying your own home, check out another article […]

Cash Deposits & Mortgages Don’t Mix! We want to help parties to a home purchase avoid a very common mortgage problem – Cash Deposits.  But, cash is king!  Right?  Not when it comes to the mortgage lending industry.  So the primary reason is that lenders cannot document the source of deposit with certainty. Here are some common, but […]

Gift Funds Guidelines for FHA Loans Gift funds are a very popular way of paying a down payment or for paying closing costs & pre-paids when purchasing a home.  On most mortgage loan programs, a gift is an acceptable source of funds as long as they are: Truly a gift and there is no expected or […]

Rent Free Options Explained It is very popular these days for people to move back in with parents.  Additionally, many even live with other family members or friends.  Therefore these buyers cannot prove an on-time housing history.  This is called a “rent free” scenario.  A recent blog posted by the National Association of Home Builders […]