CAN A GIFT BE MADE TO CLOSE FRIEND TO BUY A HOUSE

Yes. FHA and some other loan programs allow gift funds but the gifter needs to sign a doc acknowledging that is is a gift and doesn't have to be repaid. Call me for more info about qualifying. 216 337 7520

Yes

Yes, but watch the requirements for acceptable "friend" relationships where "gift funds" are allowed.

Yes.. FHA, USDA and VA allow for gifted funds, however, when it comes to conventional financing, the rules are a bit different.. check with your loan officer for further explanation.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Yes. A gift form must be completed and signed by the donor and borrower. A paper trail of the funds leaving the donors account, a copy of the check, and updated bank statement from the borrower; documenting the funds have cleared must be provided. www.imortgagelending.com

I am going to disagree with most here and say that unless the gift is fairly small (say under $2500) you will have a difficult time getting an underwriter to accept gift funds from a party who is not a close relative of the borrower. If the gift is sizable, the underwriter will be very suspicious of the funds being truly a gift, even with a gift letter.