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Tips On Gifting A Down Payment

gift-down-paymentHere is a tip for young people thinking about buying a home or for parents wanting to help their kids in a way of down payment assistance. If parents or relatives want to help financially, most lenders prefer to see the funds in the buyers’ savings or checking account at least two months prior to loan approval.

the person providing the gift most likely will have to sign papers stating that it was a gift and that it is not a “loan” to the buyers. So, if you’re expecting a down payment gift and planning on purchasing a home soon, get the funds deposited into your account now!

Then contact me to help find your new home! I can assist by suggesting a number of lenders in order for you to get pre-approved, then show you any home that is listed regardless of who it is listed with or whose name appears on the sign. It would by my pleasure serving you!