Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in 32701 : Real Estate Advice

  • All18
  • Local Info1
  • Home Buying5
  • Home Selling2
  • Market Conditions0

Activity 1
Wed Mar 30, 2011
Rudy McDowell answered:
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. For FHA and VA, there are no limits, and even your 3.5% min down payment can be gifted. With regards to the tax free portion, that's a question best answered by you and your relatives accountant(s). ... more
0 votes 6 answers Share Flag
Search Advice