Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Tips for Gifting a Home Down Payment
Tips for Gifting a Home Down Payment to Your Child
Your child just got married and you’ve decided that gifting a down payment is something you want to do for him or her. However, keep in mind that there are limits and rules pertaining to this type of gift. Knowing them will keep you from making a giant financial mistake when helping your daughter buy her first Ardrey house for sale. Read on for tips for gifting a home down payment!
The Down Payment Must be a Gift, Not a Loan
If you plan on helping out your kids, the down payment must be a gift and not a loan. In order to prove this, the parents will need to write a letter to the lender stating that the money never needs to be paid back.
Otherwise, the lender will factor in the loan amount from the parents into the mortgage approval amount. This may mean you qualify for less on a home for sale in Ardrey.
The Tax-Free Limits
Remember the limits when gifting a down payment. Any gift of $14,000 or more will result in a tax bill. However, there is a loophole that is possible if done right. The rule says $14,000 per ... more

__________________________________________________
Are you on The Rain? Grow Your Network!