down payment Archives - Bob Faust's Mortgage ReportBob Faust's Mortgage Report

Using Gift Money for Your Down Payment

1 July 2015

If you’re receiving a down payment gift for the purchase of your next home, you’re not alone; many U.S. home buyers do it. Gifts for down payment can come from parents, grandparents, siblings, children, or even spouses on a variety of loan programs including FHA, VA, USDA, conventional, and jumbo loans. But you need to make sure that ...

Millennials: Are you ready for Homeownership?

15 April 2015

If you have found yourself renting for several years, it may be time to look at the bigger picture and realize that you could be paying your own mortgage by now instead of your landlords. Over half of the millennial generation feel that finances are the biggest obstacle of homeownership. However, the most common misconception ...