Down payment gift rules for VA mortgages

November 06, 2020 by Dan Green

VA mortgages are mortgages backed by the Department of Veterans Affairs. They’re available to veterans and active members of the U.S. military; and, require no down payment whatsoever.

VA loans are zero-money-down, at your option. You can put nothing down for a VA loan or you can put something down.

When you choose to put something down, that something can be your cash gift. The VA won’t ask for you to put your personal money into the transaction, regardless of whether you’re buying a home, a condo, or a multi-unit property.

The VA allows for 100% cash gifts.

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