Cash Gifts

The Right Way To Take A Cash Gift For Downpayment

May 19, 2010 by admin · Leave a Comment 

As lenders tighten mortgage guidelines for South Bend home buyers, minimum downpayment requirements are increasing.  Several years ago, you could finance a home with nothing down. Today, most conventional mortgages require at least 10 percent.
Anecdotally, guideline changes have led to an increase in the number of home buyers accepting cash gifts from family.
Gifts are allowed [...]