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

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

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

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

Thank you This is very helpful Comment from : @yemarican

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

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

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

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

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

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

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

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

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

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

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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