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CAN YOU USE GIFTED FUNDS FOR DOWN PAYMENT OR CLOSING COSTS?

MORTGAGE How Do I? 4 views

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Comments


@yemarican
 Thank you This is very helpful
Comment from : @yemarican


@JuanN270
 Is there a maximum amount of money for the gift?
Comment from : @JuanN270


@DDudemann
 I think it’s the opposite Conventional loans allow friends fha are more strict ?
Comment from : @DDudemann


@MrLakerfan44
 My son got married this past November and is in the process of doing a loan assumption, they received a substantial amount of money from over 200 guests how do they document that?
Comment from : @MrLakerfan44


@susansuzieclaussenparham3931
 Do I have to pay taxes on gifted money from s relative toward a home purchase
Comment from : @susansuzieclaussenparham3931


@RealEstateDealsOnly
 what if the lender says that they can be a business partner?
Comment from : @RealEstateDealsOnly


@JimmyLD666
 If I give my son the money as a gift for his home down payment and closing cost, does he need to pay the gift tax at the tax year of buying the home
Comment from : @JimmyLD666


@izmark671
 If gifted stock via transfer is sold 'years' later for a down payment require the same reporting? Even if It wasn't earmarked for anything when gifted? If original stock was sold/traded for other stock negate the requirement? Such an odd rulebrThanks btw subbed
Comment from : @izmark671


@bobingalls4643
 Can I sell personal items and have a handwritten receipt?
Comment from : @bobingalls4643


@miguelducasse
 Hmmmm nicequestions I'm short 3grand on the investment loan for the down payment can completely forgot of this process and spend the money on money on other things etc 😬😬 I do have the money or ways to getting the 3 grand but it's money I have in cash right now I haven't spoke to the lender yet but what are my options? Any creative thinking what's the worst that can happen?
Comment from : @miguelducasse


@Davion_savant
 Hello can down payment and closing assistance cost be utilized at the same time ?
Comment from : @Davion_savant


@furqanahmed5868
 I have closing for my house within 30days Can I still get gift money into my bank account?brAlso can I get gift money from my three brothers separately or it should be only one gift money?brThanks
Comment from : @furqanahmed5868

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