"Ken, would need more details on the transaction in order to fully qualify but so far this scenario fits under VA guidelines."    View Post

"If you are looking at conventional, gifts are allowed but the borrower must be bringing at leat 5% of their own funds to the table in addition to the gift. With a 645 credit score, you may be better off looking at FHA which does NOT have the risk based adjustments that you will find with conventional loan products and also does not have gift restrictions. Best advice is to work with a lender/broker that can provide you with numerous different options to compare so that you can make a decision on..."    View Post