Steve Brown of First United Bank Mortgage explains what Gift of Equity and how can people benefit from it. Gift of Equity can be used by family members whom for example the parents want to sell a house to their children, they can give a gift of equity that would cover the down payment or maybe including the closing costs for their children to have the home without spending money. The trick is it should be a family member or within the family for the gift of equity to be used, they should be able to prove that they are family. But in general it is really beneficial especially for those families who have a house that is very dear to them and wants to pass it to their childrens from generation to generation.
To schedule a FREE real estate specialists consultation please contact Darryl Baskin of Baskin Real Estate Specialists powered by eXp Realty.
DARRYL BASKIN
Baskin Real Estate Specialists, eXp Realty
Email: info@darrylbaskin.com
Tel: 918 258 2600
Tel: 918 740 0077
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