While purchasers have always relied on such gifts, they have become a more critical part of today's market because down payment requirements are so high.
For many prospective buyers, interest rates, down payment requirements and credit standards are similar to those for a primary residence.
There will also be loans with no down payment requirements, he added.
If you provide all the necessary information on the application form and comply with the payment requirements, this will speed up the process.
In Canada, which has a national health care system, what are the payment requirements of United States citizens who need medical treatment?
Rising house prices are reflected particularly in down payment requirements, the study said.
China has down payment requirements that exceed 20%, with higher amounts for non-primary residences.
The down payment requirement was typically about $12,000 for a $250,000 three-family house.
The Commission has already announced such large payment requirements for 2003 that there is a fear that the figure will far exceed the budget ceiling.
Many co-op have down payment requirements that go well beyond the 20 percent that lenders require.