The amount that a seller can pay toward a buyer’s closing costs depends upon the type of loan that a buyer is using and the intended occupancy of the property. The same holds true for the amount of money a buyer may receive in the form of a gift from someone toward down payment and/or closing costs.

Closing Cost and Gift Limits by Loan Type

Each product has specific guidelines regulating who the donor of the gift funds must be.  Contact us for more information.

**Gifts are not allowed on investment purchases 
***This is based on new Conventional Loan guideline changes effective 07/2011 
+ Certain scenarios do allow the use of gift funds for reserve requirements – ask Jeremy for more details

Team Phone:  602.435.2149
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