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.
So, if your relatives are buying a $200,000 home, they won't have to contribute any money for a down payment if you provide them with at least $40,000 -- 20 percent of the home's purchase price -- as a down payment gift.o matter how much money you gift someone for a down payment, there is one rule that you must follow: The money you are giving must be a gift. You can't expect the borrowers to repay you.