Give me a call today! 215-416-3391

Advice for Buyers: Thing You Abolutely Should Not Do #3

HomeHome Buyer AdviceAdvice for Buyers: Thing You Abolutely Should Not Do #3
Post Image

Not telling the giver of a gift that you will need a gift letter and proof (usually a bank statement) that they have the funds to give.

According to Quicken Loans (Using Gift Money for Your Down Payment, What You Need to Know), many of the following items may be required in a gift letter:

  • The donor’s name, address and phone number
  • The donor’s relationship to the client
  • The dollar amount of the gift
  • The date the funds were transferred
  • A statement from the donor that no repayment is expected
  • The donor’s signature
  • The address of the property being purchased

 

Different mortgage loan types also have different rules, so know the guidelines.  I can help put you in contact with a trusted mortgage lender.  It all starts with a conversation…

Written by

I’ve been a resident of Bucks County since 1979 and have been a REALTOR since 1995. I have earned the respect of friends & associates by maintaining a level of fairness & understanding of their needs. A big part of my process is the conversation. I believe a lot of agents have forgotten this. To sit down & really listen to what you are looking to accomplish & what your dreams and wishes are. I’ve always said it all begins with a conversation & it holds true for everything.

Leave a Reply

Your email address will not be published. Required fields are marked *