Fannie Mae Gift Question
Hi, Loan amount $807k (LTV 75%), down payment $269k (25%). Borrower will need a gift of about 60k from a friend to make the 25% down payment.
My understanding is that Fannie allows only gifts from family. Is there a work around this scenario? This particular loan program requires a 25% down payment, so there is no option of less than 25% down payment.
Please advise. Many thanks!
u/Aditya0928 — 5 days ago