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Using Gift Funds for USDA Loans

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Using Gift Funds for USDA Loans

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  1. Using Gift Funds for USDA Loans When it comes to USDA Loans, borrowers can use gift funds to go toward their down payment. However, loan officers often verify the borrower's source of income and whether or not the loan program's requirements are met. Acceptable Sources of Gift Funds Employer Labor Union Family Members Charitable Organizations Homeownership Assistance Grants & Programs Important Things To Know The donor has to sign a statement that the gift funds have been given from their bank account and they don’t expect it to be paid back. Qualified buyers can utilize gift funds for paying closing costs. Funds received from parties involved in the real estate transaction such as the seller, real estate agent, or lender are not acceptable. 107 W. Hwy. 190 Copperas Cove, TX 76522 254-542-5100 2201 Trimmier Rd. Killeen, TX 76541 254-680-6158 14641 S. Padre Island Dr., Ste. B Corpus Christi, TX 78418 3106 S. WS Young Dr., Bldg. D, Ste. 402 Killeen, TX 76542 254-953-7000 361-949-4647 10961 Gateway Blvd. West, Ste. 200 El Paso, TX 79935 915-843-2681 8522 Broadway St., Ste. 208  San Antonio, TX 78217 210-340-0404 1320 N. Zaragoza Rd., Ste. 111 El Paso, TX 79936 915-858-1996 7348 W. Adams Ave., Ste. 200 Temple, TX 76502 254-771-0020 16165 North 83rd Ave., Ste. 200 Peoria, AZ 85382 2422 E. Main St. Gatesville, TX 76528 254-248-0029 480-752-3110 100 W. Central Texas Expwy., Ste. 300 Harker Heights, TX 76548 201 E. Central Texas Expwy., Ste. 1600 Harker Heights, TX 76548 254-680-6155 254-690-3765 www.fcmloans4u.com Image Source: Designed by Freepik

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