search

Tag: gift of equity

Using a Down Payment Gift to Buy a Home

Learn how using gift funds can be used as a down payment to buy a home. Plus, see other home buying strategies like buying from family with no money down, avoiding PMI, covering closing costs, and more. Finally, we share gift funds requirements.
Gift of Equity FHA Loan Rules. Buyers Could Use Equity to Buy from Family!

Are you buying a home from a family member?  Family transactions may have pluses for both the buyer and seller.  A major benefit to buyers is a gift of equity.  So what is a gift of equity?  It is a little known rule which allows equity in a family member’s house to be used as the buyer’s […]
We are experts at so many types of mortgage loans that we are the swiss army knife of mortgages

Just in our office we see so many different mortgage scenarios and we have always taken pride in knowing a large array of mortgage products.  We don’t just take the cookie cutter loans.  We tackle the difficult situations for the good of our client and we make sure that the product our borrowers choose is […]

Blog Categories

Russell Smith | Branch Manager, NMLS ID# 78989 | Licensed in NC, SC, VA

ALCOVA Mortgage LLC | NMLS#40508 | (www.nmlsconsumeraccess.org) | 308 Market St SE, Roanoke, VA 24011

The views and opinions stated on this site or links to other sites are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines.
Additionally, this does not represent being part of a government agency. Not all products or services mentioned may fit all people.

Licensed in AL, CO, DC, FL, GA, IN, KY, MD, NC, OH, PA, SC, TN, TX, VA, WV