Gift Funds for your Mortgage Loan
If a relative is going to give a buyer a gift to cover the mandatory down payment on an FHA loan, the relative who is giving the gift is allowed to borrow the money, as long as there is no expectation that the person buying the house has to pay the money back.
Your friend in real estate,
Shelli Dore
303-942-0648
...Remember! The next time you are in a conversation with someone who is thinking about a move - IN ANY CITY OR STATE IN THE US OR CANADA - call me first! I can help make sure your friends, family members and work associates are very well taken care of.