Getting a Gift on an FHA Loan

Many Arizona FHA home buyers have everything they need except for the down payment required to purchase a home.  One of the great features of an FHA mortgage is that Phoenix area buyers are allowed to receive a gift from a family member. If a Arizona FHA home buyer is going to receive a gift for their down payment and/or closing costs, there are a few simple steps that FHA/HUD require every FHA mortgage lender take the borrower through in order for the gift funds to be allowed. FHA Home Loan … [Read more...]