Contrary to many schools of thought there are still mortgage loan programs which permit the use of gifted funds for some or even all of a borrower’s down payment. In this post, we will focus on FHA loans specifically. Although …

When are Gift Funds Allowed? Read more »

FHA Underwriting Tip; FHA allows a borrower to meet the minimum statutory investment by using gift funds from either a close family member, government agency or approved non profit. FHA requires that all gift letters include the section 1010 verbiage below – …

FAQ – What is the FHA Gift Funds Section 1010 Verbiage Read more »

Even if you use traditional credit very little, now you can build a good history by having your rent payments reported to the credit bureau.