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What percentage of the down payment can be a gift?

We are loan shopping and wondering what is the maximum percentage of the down payment that can be a gift?
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June 14 2012 - Indianapolis
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Answers (1)

FHA - unlimited
Conventional -
  1. borrower must have at least 5% of the sales price into the deal and the rest can be gifted.
  2. if the gift is for at least 20% or more of the sales price, unlimited.

Need help? Give me a call.

Mark Gelbman
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June 15 2012
 
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