Tuesday, July 5, 2016

Getting a Gift for A Mortgage Loan Approval? Eligible Donor Gifts Comparison for a Kentucky FHA, Fannie Mae, VA, and USDA Mortgage loan Approvals

 Gift Comparison - Eligible Gift Donor vs. Ineligible Gift Donor





1. FHA Definition of a Family Member and USDA definition of a Relative is:
  • child, parent, or grandparent;
  • a child is defined as a son, stepson, daughter, or stepdaughter;
  • a parent or grandparent includes a step-parent/grandparent or foster parent/grandparent;
  • spouse or domestic partner;
  • legally adopted son or daughter, including a child who is placed with the Borrower by an authorized agency for legal adoption;
  • foster child;
  • brother, stepbrother;
  • sister, stepsister;
  • uncle;
  • aunt; or
  • son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law of the Borrower.


Mortgage Calculator
Lender411 Mortgage Calculator
Loan Amount: $
Property Value: $
Interest Rate: %
Mortgage Term: Years
Property Tax: $ per year
Property Insurance: $ per year
PMI: %
First Payment Date: 

Calculate
Powered by Mortgage Calculator







-- 

Joel Lobb
Senior  Loan Officer
(NMLS#57916)



 phone: (502) 905-3708
 Fax:     (502) 327-9119







The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only.  The posted information does not guarantee approval, nor does it comprise full underwriting guidelines.  This does not represent being part of a government agency.