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.
Gift Letters. If youâre using gift money as part or all of your down payment, youâll need the donor to write a gift letter to your mortgage company that makes it clear that the money is a gift and not a loan. Hereâs what your gift letter should include: The donorâs name, address and phone number.