Posted on: 23rd Jan, 2011 02:03 pm
I'm buying a home and my fiancée is going to gift me a portion of the down payment for a home we buy. The mortgage will be in my name as she does not have credit history and I do.
However, I'm trying to figure out what types of mortgages allow for gifting and I'm having a lot of trouble finding the information. Please help.
-Thanks
Curtis
However, I'm trying to figure out what types of mortgages allow for gifting and I'm having a lot of trouble finding the information. Please help.
-Thanks
Curtis
Hi curtislaprise,
You can get a FHA loan or a conventional loan if you have the required credit score and income. Gifting of down payment won't affect your chances of getting a mortgage.
Thanks
You can get a FHA loan or a conventional loan if you have the required credit score and income. Gifting of down payment won't affect your chances of getting a mortgage.
Thanks