DOCUMENTATION REQUIREMENTS
Gifts must be evidenced by a letter signed by the donor, called a gift letter. The gift letter must:
• Specify the dollar amount of the gift
• Specify the date the funds were transferred
• Include the donor’s statement that no repayment is expected
• Indicate the donor’s name, address, telephone number and relationship to the borrower
If you’ve been putting off buying a home because you think you need a big down payment, we should talk. Our FHA loans are perfect for home buyers with limited savings and easier to qualify for than you might think.
Just 3.5% down. For less than a few months’ rent, you could be building equity in a home of your own.
Easy qualification. Our FHA loans are more forgiving when it comes to your past credit.
Fast and worry-free. We close most loans in 30 days or less. You may even be able to include your closing costs in the mortgage.
Gift funds accepted. Family members are welcome to help out with your down payment.
Ready to make your big move? Let’s talk about your mortgage options today
914-287-2405