Gifts are allowed for down payment on conforming and government loans. They are allowed for primary residence purchases, and must come from a family member. Fiancés are qualified donors. Gifts are not allowed on investment properties.
With competition heating up for first time homebuyers, we are seeing gifts for down payment so they can present a more competitive offer.
Are you considering a gift for the purchase of your home? Contact us and we can help!
Counsel Mortgage Group®, LLC
Licensed in Arizona, California, Hawaii and Illinois
www.counselmortgage.com
480-502-1000
NMLS #178927
AZ MB #0909580
CA DBO # 60DBO43873
HI-178927
IL MB.6761723
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