The U.S. Food and Drug Administration (FDA) is strengthening an existing label warning that non-aspirin nonsteroidal anti-inflammatory drugs (NSAIDs) increase the chance of a heart attack or stroke.
Not everyone receiving a cash gifts want to make a 20% downpayment, though. Cash gifts are also allowed for low-downpayment mortgages including the FHA purchase mortgage, which requires a 3.5% downpayment; and the Conventional 97 mortgage from Fannie Mae and Freddie Mac which requires just 3% down.
Until October 1, 2008, home sellers could essentially contribute an FHA buyerâs down payment by making a contribution to a nonprofit, which in turn would provide a down payment grant to the buyer. While that practice is now prohibited, FHA rules do allow sellers to give up to 6 percent of the homeâs purchase price for closing costs. âThe thing to remember is that they can give up to 6 percent, but if closing costs only total 4 percent, thatâs as much as a seller can give,â says Don Frommeyer, board member of the National Association of Mortgage Brokers. Sellers: Prepare to pay