Gift Funds- The easiest way to receive Gift Funds

Learn about the easiest way to incorporate gift funds into your mortgage transaction. Gift funds can come from an employer, family member, or domestic partner. To avoid complications, wait until you're under contract and escrow is open. Then, your gifter can wire the funds directly to escrow using the provided instructions, followed by e-signing a gift letter. This method minimizes paperwork and ensures a smooth process.

Key Takeaways:

• Definition and sources of gift funds.
• Step-by-step process to seamlessly integrate gift funds.
• Wiring funds directly to escrow is important to avoid complications.

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