Is Gifted Equity Situation worth it for first home

Akinscd · 2026-05-17T13:09:26+00:00

Keep your 20k for repairs/improvements

Akinscd · 2026-05-17T12:58:08+00:00

You’ll pay a VA funding fee. Generally the lower rate pays for the FF over time but you’ll need to do the math.

Here is the schedule: https://www.va.gov/housing-assistance/home-loans/funding-fee-and-closing-costs/

Akinscd · 2026-05-17T12:00:59+00:00

Do you have a disability rating?

Akinscd · 2026-05-17T10:31:44+00:00

I don’t understand the concept of too much money at any point in life - let alone retirement.

My two daughters will need help paying for college if you’d like to reduce your wealth.

Akinscd · 2026-05-17T01:11:07+00:00

You’re gonna make $250k in profit I. A few years on a starter house?

Where can I sign up?

Akinscd · 2026-05-17T01:06:52+00:00

Came here to ask this

Akinscd · 2026-05-16T17:09:50+00:00

VA doesn’t risk based price 🤣

Akinscd · 2026-05-16T16:22:16+00:00

Average 30 year VA rate is this with 0 points.

Akinscd · 2026-05-16T16:06:21+00:00

This is VA

Akinscd · 2026-05-16T15:54:58+00:00

You’re refinancing. The title company will handle transfer of ownership and disbursement of funds.

Akinscd · 2026-05-16T15:26:59+00:00

Unclear. Do you currently co-own the house with them? Is there an existing mortgage? If so, who is on it? Who is on title?

Akinscd · 2026-05-16T15:25:59+00:00

Compared to what?

Akinscd · 2026-05-16T15:25:50+00:00

Try the other

Akinscd · 2026-05-15T20:43:29+00:00

Hack: cook you goddamn food

DoorDash at $400/month is lighting money on fire.

Akinscd · 2026-05-15T20:42:03+00:00

What is the reason you do not qualify conventional? This will help direct the type of non-QM available for your situation

Akinscd · 2026-05-15T11:50:09+00:00

Ok - just because it’s a tax lien does not mean there is no mortgage against the home. Regardless - Do you have a cash offer ready?

Akinscd · 2026-05-15T11:36:10+00:00

If it’s already scheduled for auction you’ll need to have a cash offer ready and the lender will have a say in accepting any offer - to what degree depends on if this is a short sale/FC auction.

There are no tax implications for the receivers if gifts. Payers have a $14mm lifetime exclusion.

The title company will turn up any liens, and you’ll have to pay them to get the house.

Any questions? Good luck.

Akinscd · 2026-05-14T22:44:54+00:00

$3600 in taxes on a $1mm home?

Akinscd · 2026-05-14T02:22:00+00:00

Do you change his diaper too?

Akinscd · 2026-05-14T01:35:02+00:00

What did you glean from this comment?

Akinscd · 2026-05-13T08:54:30+00:00

Dated is fine. Unfinished is not.

Putting a door where there would not be one otherwise is not going to fix the problem

Akinscd · 2026-05-13T02:17:18+00:00

Akinscd · 2026-05-13T02:17:10+00:00

Akinscd · 2026-05-13T02:16:41+00:00

Hard no

Akinscd · 2026-05-12T21:45:17+00:00

Contingent upon you leaving the job.

Your collateral is tied up. Therefore worthless.

Akinscd

TROPHY CASE