What kind of documents are needed to show that a gift was given to a person for the purpose of buying a house with FHA funding?  What kind of documents must the giver provide to the underwriters?  Must the giver show their checking account for the last 30 days to show that the money was there or that a deposit was made before the check was written?  Are there different rules as to the size of the gift?  For instance, is there a different rule for a $5000 gift from a parent to an adult child or if the gift is $50,000 are the rules the same?  How much information is needed by the FHA?

 

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Kenneth Cole Licensed Real Estate Salesperson

Staten Island, NY

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Appleseed Homes Realty

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