Re: FHA downpayment gift requirements--does it have to be a family member?
That would be my suggestion as well if at all possible. If they are supposedly "the largest FHA lender in the state" and they don't understand the requierments, do you really want to do buisness with them anyhow?
Re: FHA downpayment gift requirements--does it have to be a family member?
My thoughts exactly. Which is why I called a different brokerage during my lunch hour yesterday. I was pre-approved and hour later with an interest rate of 5.5%--a full point lower than the other place said I could get. I can't wait to get it all done--I will be sure I go back to the first brokerage afterwards and make sure they are aware I know they were trying to screw me and that it costed them business.
