Ask a Jumbo Genius – Down Payment
Can down payment funds on a Jumbo Loan be gifted?
Yes, down payment funds can be gifted for a Jumbo Loan purchase. But typically, the borrower needs to contribute at least 10% of the down payment out of their own funds prior to the receipt of gift funds. For the gift of additional honest, accurate mortgage advice, contact a Jumbo Genius below or call 708-531-8388.