Do FHA Mortgage Lenders Allow Gifts for Down Payment And Closing Cost?
• The FHA mortgage applicants Family Member;
• The FHA mortgage applicants employer or labor union;
• The FHA mortgage applicants close friend with a clearly defined and documented interest in the Borrower;
• a charitable organization;
• The FHA mortgage applicants a governmental agency or public Entity that has a program providing homeownership assistance.
Cash on Hand is NOT and cannot be used an acceptable source of donor gift funds.
Only Family Members may provide equity credit as a gift on property being sold to other Family Members.