Jumbo Loans

June 29, 2017

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.

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