Downpayment gifts are common among today's home buyers. It may surprise you, though, to hear that buyers of all types are taking gifts for downpayment. It's not just first-time home buyers.
Move-up buyers and even buyers of jumbo homes seem to be bringing cash gifts to closing more frequently than in the past.
If you're getting a gift of downpayment from a family member or spouse, make sure you do it the right way. If you do it wrong, your bank may turn down your loan in underwriting.
The web is full of mortgage and financial news and I find it important to keep up to date and follow any developing trends. Most of the news I view online but some arrives in my inbox. I use the weekend to catch up on my reading, try to get my inbox to zero (never happens), and clean out my feedreader. This article comes from my favorite mortgage blog.