All Forum Posts by: Andrea Flores

Shaun Weeks We did not get an appraisal yet. I didn't wanna go that far in the process without having the correct funds so I didn't waste any if my money in the process. This guide seems like it may be very helpful. I'm glad it was pointed out to me!

Mark D. We did not get an appraisal yet. I didn't wanna go that far in the process without having the correct funds so I didn't waste any if my money in the process. This guide seems like it may be very helpful. I'm glad it was pointed out to me!

It would only be a gift of 2000, so it doesn't appear to exceed the gift tax exclusion amount of 14k for 2014. I think I'm good there. My mortgage lender is telling me differently though. She says all of the closing cost need to be my own money as well as the 20% down. I'm just not sure why she is telling me this when every where I am researching is telling me that closing costs can be gifted, whether for an investment property or not.

You can't buy an investment property with and FHA loan.

When buying an investment property can closing costs be gifted as long as the 20% down is my money? I live in michigan. Not sure if that's relevant.