Can I use gift money from family for my down payment?

Yes, most loan programs allow you to use gift funds from family members for part or all of your down payment and closing costs. The lender will require a gift letter signed by the donor stating the amount, the relationship, and that the money is a gift with no expectation of repayment. You will also need to document the transfer, usually with bank statements showing the donor had the funds and that they were deposited into your account. Different loan types have different rules about how much of your down payment can be a gift versus your own funds, and some require you to contribute a minimum amount from your own resources. The specifics depend on your situation and a licensed lender should confirm the requirements and help you with the paperwork, and Jon can connect you with one.

Specifics depend on your situation and should be confirmed with a licensed lender. Jon can connect you with one: text (623) 826-0888.