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.
Share on Facebook. If a relative or friend will giving you gift money to help make a down payment on or purchase a house, your bank and lender will require some type of written documentation that the money is in fact a gift, not a loan. Here's a sample gift letter you can use for this purpose.