Tag: <span>Equity</span>

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CREATIVE FINANCING: GIFT OF EQUITY

What is a gift of equity? Example: Your child is looking to purchase a home and you are ready to sell your home. Your child has expressed an interest in living in the childhood home instead of you selling it to a third party. but, your child has no money for down payment or closing...

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QUALIFYING WITH A GIFT LETTER

Can gifts be used towards the purchase of a home? Gifts are allowed on primary residences and second homes, but not on investment properties. To qualify, a gift must be made by a relative. A gift letter will need to be executed by both the donor and donee stating their relationship, the amount and date...

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BANKS ARE EXPECTING A STRONG YEAR (2019) FOR CRE LENDING

Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC.   The Mortgage Bankers Association (MBA) recently reported another stellar year for commercial/multifamily mortgage originations in 2018. Although the MBA will release final data next month, results from its fourth quarter mortgage originations survey point to volume that could be...