A Gift of Equity Mortgage

FHA World - FHA Gift of Equity

A gift of equity is a transfer of ownership of a property to a family member or someone with whom the seller has had a previous relationship, at a price below or at the current market value. The difference between the actual sales price and what is owed on the home is called the gift of equity. Most lenders allow the gift to count as a down payment on the home.

Gift of equity requires a gift of equity letter that is signed by both the seller and the buyer. For the purpose of obtaining a mortgage a gift of equity is treated as a purchase transaction.

A sales contract will be needed.

A Gift of Equity Mortgage >>>>>

Gift of Equity Mortgage

Alabama Gift of Equity Mortgage, Alaska Gift of Equity Mortgage, Arizona Gift of Equity Mortgage, Arkansas Gift of Equity Mortgage, California Gift of Equity Mortgage, Colorado Gift of Equity Mortgage, Connecticut Gift of Equity Mortgage, Delaware Gift of Equity Mortgage, District of Columbia Gift of Equity Mortgage, Florida Gift of Equity Mortgage, Georgia Gift of Equity Mortgage, Hawaii Gift of Equity Mortgage, Idaho Gift of Equity Mortgage, Illinois Gift of Equity Mortgage, Indiana Gift of Equity Mortgage, Iowa Gift of Equity Mortgage, Kansas Gift of Equity Mortgage, Kentucky Gift of Equity Mortgage, Louisiana Gift of Equity Mortgage, Maine Gift of Equity Mortgage, Maryland Gift of Equity Mortgage, Massachusetts Gift of Equity Mortgage, Michigan Gift of Equity Mortgage, Minnesota Gift of Equity Mortgage, Mississippi Gift of Equity Mortgage, Missouri Gift of Equity Mortgage, Montana Gift of Equity Mortgage, Nebraska Gift of Equity Mortgage, Nevada Gift of Equity Mortgage, New Hampshire Gift of Equity Mortgage, New Jersey Gift of Equity Mortgage, New Mexico Gift of Equity Mortgage, New York Gift of Equity Mortgage, North CarolinaGift of Equity Mortgage, North Dakota Gift of Equity Mortgage, Ohio Gift of Equity Mortgage, Oklahoma Gift of Equity Mortgage, Oregon Gift of Equity Mortgage, Pennsylvania Gift of Equity Mortgage, Rhode Island Gift of Equity Mortgage, South Carolina Gift of Equity Mortgage, South Dakota Gift of Equity Mortgage, Tennessee Gift of Equity Mortgage, Texas Gift of Equity Mortgage, Utah Gift of Equity Mortgage, Vermont Gift of Equity Mortgage, Virginia Gift of Equity Mortgage, Washington Gift of Equity Mortgage , West Virginia Gift of Equity Mortgage, Wisconsin Gift of Equity Mortgage, Wyoming Gift of Equity Mortgage.


Apply Now

Call us 888-958-5382


www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.


LOGO
Image 12

Apply Now!

Call 800.516.9166

Email Us!



FHA Credit Score needed to buy
a house or refinance


FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%

FHA requires a minimum credit score of 500 to buy a home or refinance


Bankruptcy

Chapter 7 Bankruptcy at least two years must have elapsed since the discharge date


Foreclosure

Foreclosure must have been resolved for at least 3 years

Government loan: Seasoning is determined by the date the claim was paid

Loans other than Government: Seasoning is determined by the date of sale the lender sold the property


Short Sale

FHA guidelines requires three year past from the date of sale of the property


What documentation will I need?

  • W2's or Personal tax returns for 2 years
  • Current pay stubs for the past month
  • Bank statements for last 2 months (all pages)
  • Clear copy of Driver’s License (front and back)
  • Clear copy of SS card (front and back)

Call Now, Our Staff is Available
888-958-4228


Apply Now!

Recent Articles

  1. Mortgage Rates August 5

    Aug 05, 24 04:10 PM

    Mortgage Rates August 5, 2024. Rates have gone down recently. Lower rates equals lower mortgage payment.

    Read More

  2. Mortgage Rates August 5 2024

    Aug 05, 24 03:55 PM

    blog.png
    Mortgage Rates August 5 2024

    Read More

  3. Today's FHA Rates 5.00% & 5.875% Conventional Minimum 700 Credit Score

    Aug 05, 24 03:48 PM

    Today’s historically low 30 year fixed interest rates make now the perfect time to purchase a new home or refinance To be approved at the lowest mortgage rates, you do not need to have the highest cre…

    Read More


LOGO

New Jersey Location

Call Now, Our Staff is Available!

800.516.9166

Z1.png