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Gifts were possible (I received one) but the giver had to also sign a document explicitely stating that they did not require repayment and relinquished all righ

• pc86 10y ago
  I think our bank's concern was that if you needed that gift (in order to lower the mortgage payment by having lower principal or getting rid of PMI or whatever) then you were probably buying too much house in the first place. If 20% of the value of the your home is enough to make it financially infeasible and someone loses their job or gets in a car accident you're in for some rough times.
• losteverything 10y ago
  Never heard of or thought of that. As an executor of several family members Estates and also friends to others it's very often parents give children money for down payments. Almost always, the assistance in getting the house is subtracted from the disbursement of assets (when they die ) I also don't see why someone can simply change their mind "oh yes, you do need to pay me back" after the documents are already been signed and the house bought.