sangfnsgfsd
Brett's Mortgage Blog

Who Can And Can’t Give A Gift On FHA Loans…

FHA gift questions come up often.

I wanted to give you the rules on FHA gift giving. Here ya go…

Acceptable gift donors for FHA loans…

1) Borrower’s relatives.
2) Borrower’s employer or labor union.
3) A close friend with a clearly defined and documented interest in the borrower.
4) A charitable organization.
5) A governmental agency or public entity that has a program providing home ownership assistance.

Unacceptable gift donors for FHA loans…

1) The seller.
2) The real estate agent or broker.
3) The builder or an associated entity.
Gifts from these sources are considered inducements to purchase, and must be subtracted from the sales price.

That’s it for today!

Have a good day today! …and thanks for reading.

Brett

Get Pre Approved For A Loan Here
My Previous Blog

Brett Sampson

Recent Posts

Here’s A Cool Calculator That Can Help You Decide If It’s The Right Time To Buy A House…

If you are thinking about buying a house, but you aren’t really sure if it’s…

20 hours ago

Maximum Amount The Seller Can Help You By Loan Program…

Here is a breakdown of the maximum seller help amounts by loan program… Program: Conventional…

3 days ago

Two Ways To Help Pay Your Property Taxes…

Your property tax bill usually comes out in late November, or early December. There are…

1 week ago

How To Buy Rental Property Without Proving Income…

If you want to acquire rental properties, but you are having issues proving your income…

1 week ago

How To Get A Loan With Foster Care Income…

If you receive money from the State or a County sponsored organization for providing foster…

2 weeks ago

How Delayed Financing Works…

If you purchased a home using your own cash, and now would like to pull…

3 weeks ago