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re: Kids Buying First Home
Posted on 10/10/23 at 12:24 pm to Aubie Spr96
Posted on 10/10/23 at 12:24 pm to Aubie Spr96
its a gift for purchasing a home its not taxed by the IRS. Your kids lender will send you a gift letter to sign and fill out. DO NOT GIVE THEM MONEY TO PUT IN THEIR ACCOUNT. before closing you will need to give them a cashiers check for the amount made out to the title company. FYI i have been a mortgage lender for 17yrs.
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