April 1, 2025

Video Summary: How Gifted Funds Can Help With Your Home Down Payment

Did you know that family gifts can help you make a sizable down payment on a home? In this video, we discuss how gifted funds from family members like parents or grandparents can be used to cover a down payment and help you secure your dream home. We also touch on potential changes to the gift allowance limit in 2025 and how it could benefit homebuyers.

Here’s what you’ll learn:

• How family members can gift funds to help with your down payment
• The increase in the gift limit to $19,000 per donor in 2025
• How multiple borrowers can combine gifted funds to create a larger down payment
• The importance of speaking with a tax consultant or CPA before accepting gifts

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Key Takeaways

• Family gifts can be used to help with your home down payment, making homeownership more accessible.
• Each family member may be able to gift up to $19,000 in 2025 without tax implications (check with a CPA).
• Combining gifts from different family members can add up quickly—$76,000 from four contributors, for example!
• Be sure to keep documentation and consult with a tax professional to avoid any legal issues.
• The larger your down payment, the stronger your offer in a competitive market.

Ready to make your homeownership dreams come true? Gift money could be the helping hand you need!