As the mortgage market shifts, Maine Mortgage Solutions is here to keep you informed of any change that can help your borrowers qualify for financing. Fannie Mae and Freddie Mac added certain non-relatives to their list of eligible gift donors.

Funds for conventional loans can come from:

• A domestic partner or their relative
• A former relative
• An unrelated individual with family-like ties (e.g., a godparent)
• An estate or a trust established by a relative (as gift funds or gifts of equity)

Note: Family members and non-relatives cannot be gift donors if they have an interest in the transaction or an affiliation with an interested party.

To learn more about these gift donor updates, see the Fannie Mae or Freddie Mac websites or contact your account executive.