Down Payment can Now Come as a Gift on Conventional Loans!
The borrower’s minimum required investment has recently been decreased from 3% down to 0% if the borrower is able to obtain a Gift for their Down Payment. This is now eligible on all Conventional Loans where the borrower is purchasing a property as their Primary Residence. This follows in line with the longtime FHA guideline in this regard hence opening the door to purchase a home for many more potential homebuyers!
