There are many acceptable sources for a down payment.
Here’s a list of down payment sources:
- Checking and savings accounts
- Financial gift from a family member
- Gift of equity
- Down payment assistance programs
- Loans from retirement accounts or other financial securities
- Sale of personal property owned for a year or more
For additional questions about our mortgage down payments, please contact our Mortgage Services Department at 770.580.6098 or mortgage@peachstatefcu.org.
For more information on how to use a gift as a down payment on your mortgage, check out this helpful article from BALANCE. BALANCE is a financial education and counseling service that can help you get your finances in order, pay down your debt and reach your goals – all at no cost if you’re a Peach State member!