Selling a home to a family member or someone else with whom the seller has a close relationship at a price lower than its market value. The gift of equity is the difference between what the house sells for and its actual market value. Most lenders typically let the gift count as the down payment.
Related information about gift of equity:
- Gift Of Equity Definition | Investopedia
The sale of a home made to a family member or someone with whom the seller has had a previous relationship, at a price below the current market value.
- Back to Gift Funds, Gift of Equity - The Mortgage House - Home Loans
Gift Funds, Gift of Equity. Q: I have been considering a gift of equity for my daughter, but do not know what steps to follow. I am also not aware of any extra costs ...
- Avoiding Taxes on a Gift of Equity - The Mortgage Professor
Dec 20, 1999 ... Lenders will accept a gift of equity, defined as sale price below current value, as the equivalent of a cash down payment. Gift taxes can usually ...
- Gift Of Equity - Frugal Dad
Jun 3, 2009 ... It is called giving a gift of equity, and it basically means the seller gifts the equity in their home to the buyer to serve as their down payment.
- Can I Give a Gift of Equity in a Home? - Wiki | The Motley Fool
When you sell a home to a relative or someone with whom you have a prior relationship for less than the market value, that's called a gift of equity. Lenders may ...
- Gift of Equity | Mortgage Reference Library
If you are thinking of purchasing a home from a family member or a relative, a gift of equity can help you with the down payment. The lender will normally require ...
- Gift of Equity
Gift of Equity. If you are thinking of purchasing a home from a family member or a relative, a gift of equity can help you with the down payment. Be aware that ...
- Gift of Equity Issue - Zillow Mortgage Advice
Jun 18, 2012 ... Mortgage Rates in Springfield, NJ - Hey all, looking for help on a problem that wasnt a problem until the last minute. We are buying ...