Cash gift Archives - San Diego Purchase and Refinance Loans

by Chad Baker August 17, 2021

Giving a Downpayment Gift? Here’s What to Know About the Taxes

This article will help you understand the basic tax implications of giving a downpayment gift. For many people, the downpayment is a significant barrier to homeownership. For most mortgages, you need roughly 5% to 10% of the purchase price to secure the loan.…

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How (and Why) to Give a Generous Downpayment Gift

by Chad Baker November 12, 2020 0Comments

Many people struggle to build a downpayment, causing them to avoid homeownership entirely. To help struggling loved ones and friends, some people give generous cash gifts, which can then become a borrower’s downpayment, creating an entry point to rewarding homeownership. …

The (Current) Tax Code and Implications on Gift Taxes

by Chad Baker November 10, 2020 0Comments

The downpayment for a mortgage loan is often the largest hurdle between a would-be buyer and homeownership. For this reason, many buyers receive cash gifts from relatives, using the money to jumpstart their purchase. But you may need to pay a…

When Can You Use a Financial Gift for a Downpayment?

by Chad Baker March 25, 2020 0Comments

The downpayment is one of the biggest hurdles to homeownership. So big, in fact, that is keeps many would-be borrowers from getting the home they deserve. This is understandable, as even a minimal downpayment can equal thousands of dollars. For…

Jumbo Loan Myths and the Reality Behind these Loans

by Chad Baker February 10, 2020 0Comments

In an industry full of misconceptions, misinformation, and misinterpretations, jumbo loans might be the most misunderstood mortgage of all. These loans, which are by definition larger than the limits set by conventional loans, can vary widely from lender to lender, leading to…

DACA Home Loans FAQ: Ten Important Questions About Loans for Dreamers

by Chad Baker February 3, 2020 0Comments

Getting a DACA home loan can seem confusing, but it’s actually quite simple. Read through these frequently asked questions and you’ll have the information needed to move forward on your home purchase… Frequently Asked Questions About DACA Home Loans…

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