New 5% Gift Down Payment Program for Conventional Mortgage
Posted on July 12, 2014Introducing New 5% Gift Down Payment Program from our lender partner. Entire 5% down payment can be gifted by another person. For example, family members can give down payment for your new home with conventional loan.
Academy's expanded requirements take the stress out of using gift funds to purchase a new home. Gifts/grants are now allowed to be considered part of the borrower's own funds.
- Entire 5% down payment can be gifted by another person
- Private mortgage insurance is required, yet premiums are lower than on a comparable FHA loan
- Seller or lender credits for closing costs are allowed
- Gifts of equity are allowed
Find Out More on How to Buy a House with Low Down Payment
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Swee Ng, Realtor with Keller Williams Realty who live, work and play in Gilbert AZ, specialize in Residential Resale, First Time Home Buyer and Investment Homes. Call 480.721.6253 or Contact Us today for complementary consultation.
