I'm getting a gift from someone else. Is this an acceptable source of my down payment?
Depending on the product you choose and if the gift giver is related to you or your co-borrower, gifts are an acceptable source of down payment. We'll ask you for the name, address, and phone number of the gift giver, as well as the donor's relationship to you. Prior to closing, we'll verify that the gift funds have been transferred to you by obtaining a copy of your bank receipt or deposit slip to verify that you have deposited the gift funds into your account.