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They are, however, very strict about the source of the gift funds. Under no circumstance may the gift funds come from any one person involved in the sale or purchase of your future home.
Acceptable sources for gifts: Relatives Employer Close family friend Agency sponsored homeowner assistance programs. FHA is very specific about the source of the gift best payday loans online california so be sure and discuss the details with your mortgage professional.
Employment. Lenders like to see stability in a borrower and FHA is no different. FHA requires a two-year work history, preferably with the same company or at the very least the same industry. Citizenship Status.
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