Tag Archive for: gift funds

Gift Funds Should Go Straight to Escrow, Not Into Bank Account

/in ,
We are seeing buyers use gift funds more often than ever lately. This is a reminder that it is much easier if borrowers wait until they are in escrow before […]Read More

Realtor Commissions Credited for Closing Costs & Down Payment (Gift)

/in ,
Realtors can credit their commissions toward recurring and non-recurring closing costs. This is well-known. What many Realtors do not know is that they can “gift” all or a portion of […]Read More

Almost Anybody Can Be a Relative for “Gifting” Purposes

/in , ,
We repeat this often b/c such a large proportion of our borrowers purchase properties with “gift funds” for down payments and closing costs. A “donor” or a person gifting funds […]Read More

Using “Realtor Commission” As Gift for Down Payment

/in ,
Realtors writing offers for relatives can credit their commissions as “gifts” for down payments. We have a pre-approved borrower right now with limited down payment funds. Her daughter is a […]Read More

“Seasoned Funds” Revisited; Looking for Seasoned Funds

/in ,
We defined and addressed “Seasoned Funds” in Monday’s comments, and our trainer astutely pointed out that we missed a couple of significant sources for “Seasoned Funds.” This is especially important […]Read More