Gift of Equity: What It Is, How It Works, Taxes, and Pros & Cons
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A gift of equity is given by the seller of a property to the buyer. It’s a great way a family member can help you buy sooner - just make sure it’s structured correctly. The donor must be a relative as defined by loan guidelines or a non-relative that shares a familial relationship. Not a commitment to lend, not an actual loan scenario. #firsttimehomebuyer #homebuyingtips #floridarealestate #georgiarealestate #mortgagetips Anthony Cerrud Loan Officer NMLS 1597999 | Anthony Cerrud
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