Using a Gift to Pull Off Househack

[Austin Negron]

Learnt some interesting stuff today. For using an on 3&4 unit MF, you cannot use a gift as cash reserves. I believe you need at least 3 months of cash reserves (at least according to 1 lender). BUT! You can use the gift to make the downpayment - and use your capital saved as the reserved instead of using that as the downpayment. Just a fun little thing I thought was interesting and will definitely come in useful down the line. Do you guys know of some other funky maneuvers in regards to gift and pulling off househacks w/ FHAs?