Tag: gift

Fannie Mae’s Top FAQs – NEW MTP™ – What is The Difference Between a Second Home and Investment Property?

Written by: Lloyd Rutherford, Staff Writer FAQs published by Fannie Mae are a great way to learn a lot in a quick period of time. Read through this latest FAQ release and pick up some great tips! Rule Synopsis: Fannie Mae updated their top trending questions. Fannie Mae also updated their FAQ for Homeownership Education […]

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FHA – Related Realtor Providing Down payment: Will FHA allow a gift of commission from a “family member” who is a real estate agent?

Answer: Yes.  FHA does allow a family member to gift their commission to the buyer.  See the full guideline below. Reference: 4000.1 II.A.4.d.iii.(Q) or II.A.5.c.iii.(Q)  Real Estate Commission from Sale of Subject Property refers to the Borrower’s (i.e., buyer’s) portion of a real estate commission earned from the sale of the property being purchased.  Mortgagees […]

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