Typically, when a person is applying for a new loan, they will be asked to provide statements from any bank accounts or investments as a means to show the lender where their down payment will come from when it’s time to close on the loan. And although it may seem simple that a person may receive a cash gift from a relative and apply that to the funds being considered for the purchase, it is not always so cut and dry.
On this episode of Office Hours, Malcolm and Desiree sit down to discuss what makes this situation unique and how to navigate it.
Contact Desiree: [email protected]
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