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2. What is a gift letter for a mortgage? - AOL

   www.aol.com/finance/gift-letter-mortgage...

   A mortgage gift letter is a document that helps satisfy the requirement that a borrower’s down ... If you’re buying a single-family home with a Fannie Mae- or Freddie Mac-backed conventional ...

3. How Much Money Can Be Gifted for a Down Payment? - AOL

   www.aol.com/finance/much-money-gifted-down...

   To use a gift for a down payment, lenders typically require a gift letter. This document confirms that the money is indeed a gift and not a loan that needs to be repaid.

4. Conforming loan - Wikipedia

   en.wikipedia.org/wiki/Conforming_loan

   This is because both Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market, making the demand for a non-conforming loan much less. By virtue of the laws of supply and demand, then, it is harder for lenders to sell the loans, thus it would cost more to the consumers (typically 1/4 to 1/2 of a percent.)

5. Verification of employment - Wikipedia

   en.wikipedia.org/wiki/Verification_of_employment

   Verification of Income and Employment (VOIE) is a process [1] used by banks and mortgage lenders in the United States to review the employment history of a borrower, [2] to determine the borrower's job stability and cross-reference income history with that stated on the Uniform Residential Loan Application (Form 1003).

6. Mortgage seasoning: What is it and what are the requirements?

   www.aol.com/finance/mortgage-seasoning...

   Bankruptcy waiting period. Foreclosure waiting period. Conventional loan. 4 years for Chapter 7 or Chapter 11 (2 years with exceptions); 2 years from discharge or 4 years from dismissal of Chapter 13

7. Non-conforming mortgage - Wikipedia

   en.wikipedia.org/wiki/Non-conforming_mortgage

   A non-conforming mortgage is a term in the United States for a residential mortgage that does not conform to the loan purchasing guidelines set by the Federal National Mortgage Association /Federal Home Loan Mortgage Corporation (Fannie Mae and Freddie Mac). Mortgages which are non-conforming because they have a dollar amount over the ...

8. Uniform Residential Appraisal Report - Wikipedia

   en.wikipedia.org/wiki/Uniform_Residential...

   The most current incarnation of the URAR is the Fannie Mae Form 1004 [1] updated for March 2005. It is considered a full appraisal with all three approaches to value, cost approach, sales comparison approach, and income approach. [2]

9. How Can I Avoid Taxes if I Give My Daughter and Her Husband ...

   www.aol.com/finance/want-daughter-her-husband-50...

   Gift tax rates range from 18% to 40% based on the size of the gift. However, the gift tax only applies to very few households due to a pair of important tax provisions: an annual exclusion and a ...