An FHA borrower may receive a gift from a close friend who is a non-relative if the borrower can clearly define and document the relationship.
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Answer: [tweet-start]There’s a rumor going around that a gift donor on an FHA loan must be an immediate family member. Wrong! Call me for the truth.[tweet-end] A Close Friend is an acceptable donor. See the guideline below! Reference: Handbook 4000.1 II.A.4.d.iii.(F) or II.A.5.c.iii.(F) Gifts refer to the contributions of cash or equity with no expectation […]