How to Use Gift Money as a Down Payment
Unlock Your Homeownership Dreams: Using Gift Money for Your Down Payment
Have you always wanted to buy a home (check out our home buyer page) but haven’t saved enough for a down payment? Many lenders have loan programs that allow the use of gift money for your down payment. This means your family can give you a down payment money and you can still qualify for a mortgage!
There are several different loan programs that allow gift money to be used as a down payment and each program has specific guidelines you have to follow (the income restriction in most of Portland is up to $81,400). Even if this isn’t your first house, many of these loan programs aren’t restricted to first-time home buyers, and some of them have no income limit.
For more information or if you’d like a recommendation for a lender that has these loan programs, call or email us today!
Have more questions or want professional advice on buying or selling a home?
Contact us at [email protected] or (503) 926-5213. We’re here to address all your real estate needs!