Gift Funds for a Down Payment! (What You Need to Know!)

In today's real estate advice episode you'll learn about what you need to know about gift funds for a down payment! **To get the most of out this video to help you with knowing how to work with gift funds, please watch the full video start to finish. Thank you!** It may come as surprise to many people buying a home that their friends and/ or family can assist them with their down payment. This video answers the question, "can gift funds be used for down payment." In short, the answer is absolutely yes! In the not so short answer, is better understand any possible gift funds for down payment tax implications on behalf of the "giver" and the "receiver." Gift funds for down payment are quite common to help first time home buyers buy a house. Some consider this a form of down payment assistance. It is important to note that down payment assistance programs work much differently than a friend or family member giving the money to a home buyer. As you may have noticed by now, when I refer to a down payment gift, the word "gift" is omnipresent. It's crucially important to understand this IS NOT a private loan between two parties. Of course, one may work with a local loan officer to chat about how best to arrange a private loan amongst family or friends if that is what is desired. Share your favorite part of this video with your tips on what to look for when viewing a new home with us int he comments section below. Thank you! Looking forward to seeing you next Monday with another Real Estate Advice video. Subscribe & like today! Thanks. If you want help finding one of the best real estate agents in the nation, a CRS, please let me know. I'm here to help! Want to know more about Las Vegas real estate or about buying a home in Las Vegas? Send me a message, I'm here to help! Thank you for watching! =) Enjoy an amazing day! -Your Real Estate Geek, Andrew Finney Contact info: Andrew Finney USMC Combat Veteran/ Real Estate Consultant License #S.0173260 Call/ Text: 702-710-0287 Email: [email protected] https://www.andrewfinneyteam.com/ BHHS, Nevada Properties 7475 W. Sahara Ave. Suite 100 Las Vegas, NV 89117 Designations- Certified Residential Specialist (CRS) Accredited Buyer's Representative (ABR) Sellers Representative Specialist (SRS) Certifications- Military Relocation Professional (MRP) Awesome Music Courtesy of: Song: Syn Cole - Feel Good [NCS Release] Music provided by NoCopyRightSounds. Video Link: https://www.youtube.com/watch?v=q1ULJ92aldE Download this track for FREE: http://bit.ly/SynColeFeelGoodDL