Should you give a down payment as a gift?

It’s that time of year again when people are running around trying to find the perfect gift for their loved one. With home prices and mortgage interest rates at all-time lows, you should consider giving the gift of a down payment instead.

There’s a great article at CNNMoney.com with details on when it make sense to give a gift of down payment money, compared to lending the money or cosigning a loan.

If you are a first-time homebuyer who is hesitant because you don’t have the funds for a down payment or closing costs, you can turn to your family for assistance. You may also qualify for up to $3,500 in grants from the city and state (Philadelphia, Pennsylvania). Call me today at 215-922-7900, or at 267-918-3691 to schedule your free consultation today. You could own your new home in 45 days or less!