FYI, if you are married and buying a house without your spouse the mortgage, any money they put in for the downpayment is treated as a "gift" and is still subject to all the rules for gifts and mortgages. We're doing the preapproval/prequalification process now and luckily one of the loan officers told me that my husband needs to "give" me his part of the downpayment at least 6 months in advance. It would still be possible for him to contribute right up to the last minute but we'd have to do all the paperwork as though we weren't married. I know some people do separate finances and might not realize that, as it wasn't obvious to us. Hopefully I saved some of you a headache!
Submitted January 05, 2019 at 07:55AM by Jergens1 http://bit.ly/2LQL5FT
