Can I use a gift as part of my down payment for a mortgage in Oregon?

@jeanie 

Yes, you can use a financial gift as part of your down payment for a mortgage in Oregon. However, there are specific guidelines and requirements that must be met in order for the gift to be accepted by the lender. The gift must be from a relative, partner, fiancé, or domestic partner, and the donor must provide a signed gift letter stating that the funds are a gift and not a loan. Additionally, the donor will need to provide documentation showing the source of the funds and may be required to provide additional documentation depending on the amount of the gift. It is recommended to speak with a mortgage lender or financial advisor for more information on using a gift for a down payment.

@jeanie 

Yes, in Oregon, you can use gift funds as part of your down payment for a mortgage. Lenders generally accept gift funds as long as they meet certain requirements, such as being a gift rather than a loan that needs to be repaid. The donor of the gift may need to provide a gift letter to confirm that the funds are indeed a gift and not a loan. It's important to disclose any gift funds to your lender at the time of applying for the mortgage and to ensure that you meet all the necessary guidelines. It's always a good idea to consult with a mortgage advisor or lender to understand the specific requirements and procedures for using gift funds for your down payment.