Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

My question is about gift equity.

Posted on: 05th Jun, 2010 08:23 am
My primary residence has no mortgage and was just appraised at $310,000. I am splitting up with my partner and I need to buy her out for $170,000. My net income
does not qualify me to cash out on the house. My best
friend offered to co-sign but she would not live here so
that option was denied. She has offered to buy the house
and get a purchase loan. Can I give her a gift of equity and
sell her the house for $100,000 less than the appraised
value? It would be considered a second home for her.
Welcome caradurschlag,

As far as I can understand, you will be able to give her a gift of equity and sell off the property for $100,000 less than the appraised value of the property.
Posted on: 07th Jun, 2010 01:15 am
Only relatives are eligible for gift of equity.
Posted on: 08th Jun, 2010 09:12 am
Page loaded in 0.107 seconds.