If your parents give you money to buy a home, here’s how to use it wisely!

ChatGPT said: If your parents are giving you money toward your home purchase, make sure you handle it the right way so you don’t run into problems with your lender or the IRS. That means having a signed gift letter stating it’s not a loan, keeping clear records of the transfer, understanding gift tax rules, and confirming your loan type allows gift funds. A little planning now can save you a lot of headaches later and keep your path to homeownership smooth and stress-free.