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Gift money from grandparents

Discussion in 'Home Loans' started by michael, Aug 12, 2013.

  1. michael

    michael TREF Member

    Jul 1, 2012
    3
    0
    1
    How does a gift work with the banks?
    Wife's Nana wants to help out, and will give us enough to take us to 20% down. How do we use that money without having loan problems? This is our first house & we dont want to screw it up.
    We have good enough credit it would be nice not to have to go FHA
     

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