Why use a Gift of Equity home loan program?


A Gift of Equity home loan program is one that allows you to purchase a house from a family member - with no down payment and below market price.

What are the benefits from a Gift of Equity mortgage program?

You will need good credit and won't need to make a downpayment. Thus, if you want to invest your cash somewhere else, or pay your child's tuition the Gift of Equity mortgage plan will be best for you.

A Gift of Equity home purchase will let you fund 100% of your home. Those Gift of Equity programs were developed because lenders recognized the need of a mortgage program for buying a home from a family member at reduced cost and no down payment.

If you are approved for Gift of Equity mortgage loan, you will receive a Gift of Equity Letter from the lender, explaining the specific terms of the loan.

Gift of Equity Free Form loan may be also used for debt consolidation. Talk to a lender doing Gift of Equity loans about the debt consolidation options.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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