Who Can Gift You A Gift For A Down Payment On A House — Berkshire Lending

 Are you planning to use a gift for the down payment or closing costs when using a Conventional Loan?

Down Payment

Not just anyone can give you a gift. Here is the list of acceptable donors that can give you a gift…

Relative, Defined As The Borrower’s Spouse, Child Or Other Dependent, Or By Any Other Individual Who Is Related To The Borrower By Blood, Marriage, Adoption, Or Legal Guardianship. Fiancé, Fiancée, Or Domestic Partner O Domestic Partner — An Unrelated Individual Who Shares A Committed Relationship With The Primary Wage Earner, Currently Resides In The Same Household As The Primary Wage Earner, And Intends To Occupy The Security Property With The Primary Wage Earner.

The Donor May Not Be Or Have Any Affiliation With The Builder, The Developer, The Real Estate Agent, Or Any Other Interested Party To The Transaction.

That’s it for today!

For more information please visit our website. Berkshire Lending.

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