Posted on: 16th Aug, 2009 10:02 am
What is a Gift of Equity and what are the advantages?
check this.
This forum has lot of information, all you need to do is just give search once before askign questiosn which ahve been answered in the past
http://www.mortgagefit.com/homeloan/gift-equity.html
This forum has lot of information, all you need to do is just give search once before askign questiosn which ahve been answered in the past
http://www.mortgagefit.com/homeloan/gift-equity.html
Merry
Are you trying to break records with the # of posts? Many of the questions you are asking have already been answered. On the top right of your screen you will see "Search". Type your term in there such as "gift of equity" and you will find everything you need. Use that method the next time you have a question. If you do not get the answers you are looking for, then post your question.
Are you trying to break records with the # of posts? Many of the questions you are asking have already been answered. On the top right of your screen you will see "Search". Type your term in there such as "gift of equity" and you will find everything you need. Use that method the next time you have a question. If you do not get the answers you are looking for, then post your question.
The gift equity concept in like ,A family member selling real estate property to you for below market value is gifting you the difference to count as downpayment.
Advantage-
1) More smooth transactions.
2) concept give young family member as early first time home owner.
3) Downpayment cash can be use for other purposes.
4) savings on deposite for the house.
5) You can download Gift equity form from web.
6) Gift of Real Estate mortgage loan is that usually the gift supplies at least 20% of the sales price
7) Loan can also be used for debt consolidation.
Thus these are some important advantages .
Advantage-
1) More smooth transactions.
2) concept give young family member as early first time home owner.
3) Downpayment cash can be use for other purposes.
4) savings on deposite for the house.
5) You can download Gift equity form from web.
6) Gift of Real Estate mortgage loan is that usually the gift supplies at least 20% of the sales price
7) Loan can also be used for debt consolidation.
Thus these are some important advantages .