Gifting Part of Down Payment Can be the Best Christmas Present of All

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Gifting Part of Down Payment Can be the Best Christmas Present of All

by Michelle Carr Crowe

Gifting part of the down payment can be a huge blessing for my clients, especially first-time buyers. Relatives providing $10,000 in gift funds help can make that huge transition from perennially renters to actually achieving home ownership.

Gingerbread house for sale San Jose Calif. Michelle Carr Crowe

I personally received down payment gift funds from my mother, Silicon Valley real estate legend, Judy Carr, when I bought my first San Jose, Calif. condo back in 1985 (at 14 percent interest by the way). Her financial generosity during a time of extreme economic troubles (we were still experiencing real estate market fallout from the Savings & Loan crisis) strengthened our relationship. 

By making it possible for me to buy that first home and experience home ownership myself, she motivated me to achieve more in my career, too. Before buying a home, I was content just being a real estate marketing assistant. You could it's because of her gift fund that I obtained my real estate license.

Gift Funds help first time home buyers buy a Silicon Valley, Calif. home Michelle Carr Crowe

That gift encouraged me to be more like her, to be the kind of person who could help other people like me achieve that same success, strength and sense of community home ownership I experienced.

Whether buying a condo in Cupertino, a single family home in Saratoga or any home in San Jose, first-time home buyers should explore how and whether gift funds can help them make home ownership a reality. 

Are you curious about how gift funds work? Just Call 408-252-8900 and I'll be glad to talk with you and answer your questions. 

 

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gifting part of down payment can be the best christmas present of all

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Rainmaker
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Sarah Oswald
Eastvale Team Realty & Property Mgmt - Corona, CA
Broker, Realtor, CDPE, CIAS, SFR , Investor

Michelle - you are lucky to have someone as talented as your mom to model after.

If anyone out there can't decide on what to give their loved ones...gift downpayment might be on top of the wish list.

Dec 10, 2012 12:39 PM #1
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Michelle Carr-Crowe-Selling Silicon Valley Homes in Top Schools San Jose, Cupertino, Saratoga, Palo Alto-Just Call 408-252-8900
Just Call (408) 252-8900! - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Sarah & Les, I agree. It is a gift that will last and keep on giving.

Dec 10, 2012 03:42 PM #2
Rainer
124,855
Erna Neal
The Viking Team, Realty - Longwood, FL
A Knowledgable Central Florida & Seminole County,

Michelle, that is a wonderful thing your mother did, this is a great idea for families to help their loved ones when they want to purchase their first home.

Dec 12, 2012 02:05 AM #3
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Michelle Carr-Crowe-Selling Silicon Valley Homes in Top Schools San Jose, Cupertino, Saratoga, Palo Alto-Just Call 408-252-8900
Just Call (408) 252-8900! - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Erna, yes it was and it certainly made a huge difference in my life.

Dec 12, 2012 09:47 AM #4
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