Financing in 32701 : Advice

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Rudy R. McDo…, Real Estate Pro in Bloomfield Hills, MI
Rudy R. McDowell answered:
can somebody tell me how much money one can receive as a gift ( to use for home purchasing) from a relative that is tax free.?
Hi, Kate. For a Conventional/Fannie Mae loan, you can typically recive up to 5% of the total sale price as a gift. However, you must have a min of 5% of your own money vested as well. ... more
0 votes Share Flag Wed Mar 30, 2011 Financing in 32701
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