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.
For a $300,000 purchase price ($9,000 down payment), a 3 percent down payment is $6,000 less than a home buyer needs for a down payment. For the purchase of a three-family home, the One Mortgage Programs requires a minimum down payment of 5 percent of the purchase price.