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down payment gift money sourcing question!

I recently graduated and received several cash gifts from family and friends of family. I was astounded to find it all totaled $2400. I do plan to use the funds toward my down payment - how should I source this? hopefully i can avoid writing down the names of every person
By mariadriscoll9776208 from NV Jul 14th 2014
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Hi Maria - congratulations on your recent graduation! When it comes to cash there is really only one workaround with the gifts - Deposit into your account and let your account season for 60 days so no "sourcing" of the deposit is required. And, if you haven't started your preapproval process, this will give time to complete that as well. I am available if you have other questions or would like to start the preapproval process. 702-596-9565

Jul 14th 2014

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Like Linda stated, the only way to avoid having to document where the funds came from would be letting them season for 60 days in your bank account.

Jul 14th 2014

Great job and congratulations on your graduation! You can place the funds in the bank now and get your City First Approval and start shopping for a new home. 60 days is not far off, and we can start today! It's that simple. Feel free to call me and we can get started today. 702-683-3126. Nathan Kessler NMLS #377217

Jul 14th 2014


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