Knowing what is expected from a gift donor is important to prevent any last-minute issues right before closing. All of my clients receive counsel regarding the documentation the gift-giver will need to provide at the time of application to avoid any problems. Trust me with your business!
Related Article Title: FHA – Donor Gift Funds – Alternative to Bank Statement: Will FHA accept a statement from the donor’s bank letterhead with the account number, owner of account, and a statement that the balance is greater than “X” which is the amount of the gift? [Gift Funds and Gift of Equity Chart] Answer: […]