Video Transcript:
A family gift for your home seems easy, but one mistake ruins everything. Lenders have very strict rules that you absolutely must follow for your loan. I manage this process to ensure it is always perfect. I’m David Ghazaryan, and my system builds a clean paper trail that every single lender approves. The most important piece is a special note called a “gift letter.” It must clearly say the money is a true gift, not a hidden loan. You must never, ever use cash for this gift. The giver should use a check or a wire, creating a path I can easily show the lender. Lenders don't do this to be difficult; they follow the law. A perfect paper trail means your loan moves fast. A broken one means total denial. Getting this right makes your loan approval process incredibly smooth and fast. For the full article breakdown, find my website and platforms in the description below.
Read Blog Here: https://www.iqratemortgages.com/blog/how-to-document-a-down-payment-gift-in-texas
