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.
Some lenders can require as much as a 50 percent down payment for these types of low-documentation loans, along with proof that a borrower can cover closing costs and has reserves in the bank, says Igor Noble, owner of Great Northern Mortgage Corp. in New York City, which works with home buyers from Long Island.